Chart Industries (NYSE:GTLS) Sees Strong Trading Volume - Time to Buy?

Shares of Chart Industries, Inc. (NYSE:GTLS - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 585,589 shares were traded during mid-day trading, a decline of 15% from the previous session's volume of 692,200 shares.The stock last traded at $150.06 and had previously closed at $161.59.

Analysts Set New Price Targets

A number of research analysts have issued reports on GTLS shares. Citigroup lifted their price objective on Chart Industries from $190.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. TD Cowen reduced their price objective on shares of Chart Industries from $210.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays lifted their target price on shares of Chart Industries from $160.00 to $171.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley decreased their price objective on shares of Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Chart Industries currently has an average rating of "Buy" and an average price target of $200.00.

Chart Industries Trading Up 0.3%

The company has a market cap of $6.70 billion, a PE ratio of 42.52, a P/E/G ratio of 0.57 and a beta of 1.69. The stock's 50 day moving average is $144.66 and its 200-day moving average is $172.41. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 1.16.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.02. Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $1.49 earnings per share. The company's revenue for the quarter was up 38.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current year.

Insider Activity

In other Chart Industries news, Director Linda S. Harty purchased 500 shares of Chart Industries stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $140.85 per share, for a total transaction of $70,425.00. Following the acquisition, the director now owns 11,684 shares in the company, valued at $1,645,691.40. This trade represents a 4.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gerald F. Vinci purchased 175 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $147.89 per share, with a total value of $25,880.75. Following the transaction, the vice president now directly owns 475 shares in the company, valued at approximately $70,247.75. This trade represents a 58.33% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 759 shares of company stock valued at $108,223. Corporate insiders own 0.99% of the company's stock.

Hedge Funds Weigh In On Chart Industries

Several institutional investors and hedge funds have recently bought and sold shares of GTLS. Capital Analysts LLC acquired a new stake in shares of Chart Industries in the 4th quarter worth $25,000. Smartleaf Asset Management LLC raised its stake in Chart Industries by 129.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 163 shares of the industrial products company's stock valued at $31,000 after buying an additional 92 shares during the last quarter. Global X Japan Co. Ltd. raised its stake in Chart Industries by 142.9% in the first quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock valued at $25,000 after buying an additional 100 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Chart Industries in the first quarter valued at about $25,000. Finally, Fairway Wealth LLC purchased a new stake in Chart Industries in the fourth quarter valued at about $34,000.

Chart Industries Company Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.