Chart Industries (NYSE:GTLS) Hits New 12-Month High - Still a Buy?

Key Points

• Chart Industries shares hit a new 52-week high on Monday, trading as high as $209.94 before ending near $209.79.
• Analyst sentiment remains cautious: the stock carries a consensus rating of "Reduce" with a $210 price target, and recent calls from Zacks, Wall Street Zen, and Weiss Ratings were all negative or bearish.
• Despite the strong stock price, Chart Industries’ fundamentals show a negative P/E ratio and moderate leverage, while institutional investors have recently been mixed but generally active in adjusting their positions.

Chart Industries, Inc. (NYSE:GTLS - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $209.94 and last traded at $209.7940, with a volume of 1949191 shares changing hands. The stock had previously closed at $209.87.

Wall Street Analyst Weigh In

GTLS has been the subject of a number of research analyst reports. Zacks Research lowered shares of Chart Industries from a "hold" rating to a "strong sell" rating in a research note on Monday, April 27th. Wall Street Zen raised Chart Industries from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 20th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Chart Industries in a research report on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Chart Industries has a consensus rating of "Reduce" and a consensus price target of $210.00.

Chart Industries Price Performance

The stock has a 50-day moving average of $207.90 and a two-hundred day moving average of $207.41. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of -201.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.53. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.15.

Hedge Funds Weigh In On Chart Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTLS. Handelsbanken Fonder AB grew its holdings in shares of Chart Industries by 8.6% during the second quarter. Handelsbanken Fonder AB now owns 15,234 shares of the industrial products company's stock valued at $3,183,000 after buying an additional 1,200 shares in the last quarter. Crumly & Associates Inc. grew its position in Chart Industries by 2.0% in the second quarter. Crumly & Associates Inc. now owns 2,852 shares of the industrial products company's stock worth $596,000 after acquiring an additional 57 shares in the last quarter. FNY Investment Advisers LLC increased its position in Chart Industries by 111.9% during the second quarter. FNY Investment Advisers LLC now owns 4,260 shares of the industrial products company's stock worth $890,000 after buying an additional 2,250 shares during the last quarter. Carmignac Gestion increased its holdings in shares of Chart Industries by 48.5% during the 1st quarter. Carmignac Gestion now owns 82,944 shares of the industrial products company's stock valued at $17,149,000 after acquiring an additional 27,102 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Chart Industries during the first quarter valued at approximately $1,460,000.

About Chart Industries

Chart Industries, Inc NYSE: GTLS is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart's product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.

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