Chart Industries (NYSE:GTLS) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Chart Industries saw an increase in trading volume by 127%, with approximately 2.66 million shares exchanging hands on Tuesday, compared to 1.17 million shares the previous day.
• Several analysts downgraded their ratings for Chart Industries from strong-buy to hold, with a new consensus target price set at $202.00.
• The company reported earnings of $2.59 per share for the latest quarter, missing analysts' expectations and revealing a revenue of $1.08 billion, below the anticipated $1.11 billion.

Chart Industries, Inc. (NYSE:GTLS - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 2,663,108 shares changed hands during trading, an increase of 127% from the previous session's volume of 1,174,414 shares.The stock last traded at $198.82 and had previously closed at $198.75.

Analysts Set New Price Targets

Several research analysts recently commented on GTLS shares. Johnson Rice cut shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 target price for the company. in a report on Wednesday, July 30th. Lake Street Capital lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price target on the stock. in a research report on Wednesday, July 30th. TD Cowen lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Stifel Nicolaus dropped their price target on shares of Chart Industries from $231.00 to $214.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Seaport Res Ptn lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $202.00.

Chart Industries Trading Up 0.1%

The stock has a fifty day moving average of $163.31 and a 200 day moving average of $163.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55. The company has a market capitalization of $8.94 billion, a PE ratio of 36.96, a PEG ratio of 1.15 and a beta of 1.59.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.03). Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. As a group, sell-side analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chart Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its stake in shares of Chart Industries by 5.7% in the second quarter. Nordea Investment Management AB now owns 1,906,083 shares of the industrial products company's stock worth $317,248,000 after purchasing an additional 102,226 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Chart Industries by 2.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,608,883 shares of the industrial products company's stock worth $307,046,000 after buying an additional 35,004 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Chart Industries by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,169,664 shares of the industrial products company's stock worth $168,853,000 after buying an additional 105,027 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Chart Industries by 1.4% during the first quarter. King Luther Capital Management Corp now owns 979,683 shares of the industrial products company's stock worth $141,427,000 after buying an additional 13,484 shares during the last quarter. Finally, Gates Capital Management Inc. raised its position in Chart Industries by 61.5% in the first quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company's stock valued at $112,115,000 after purchasing an additional 295,738 shares during the period.

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.

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