Chart Industries (NYSE:GTLS) Shares Gap Up - Here's What Happened

Key Points

• Chart Industries' share price rose significantly, opening at $198.80 after a previous close of $171.65, indicating strong investor interest.
• Recent analyst reports show mixed price target adjustments, with Morgan Stanley lowering their target from $250.00 to $225.00, while the overall consensus rating for the stock remains a solid “Buy”.
• Chart Industries reported an EPS of $2.59 for the last quarter, missing the consensus estimate of $2.62, reflecting some challenges despite the stock's recent performance.

Chart Industries, Inc. (NYSE:GTLS - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $171.65, but opened at $198.80. Chart Industries shares last traded at $198.96, with a volume of 2,832,073 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GTLS. Stifel Nicolaus lowered their price target on Chart Industries from $231.00 to $214.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. TD Cowen downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday. Craig Hallum downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Lake Street Capital cut shares of Chart Industries to a "hold" rating and set a $210.00 price objective on the stock. in a research note on Wednesday. Finally, Seaport Res Ptn downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $202.00.

Chart Industries Price Performance

The company has a current ratio of 1.55, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $161.68 and a 200-day simple moving average of $164.30. The firm has a market cap of $8.93 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.

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

Institutional Trading of Chart Industries

Several hedge funds have recently modified their holdings of GTLS. OneDigital Investment Advisors LLC increased its position in Chart Industries by 13.2% in the first quarter. OneDigital Investment Advisors LLC now owns 2,026 shares of the industrial products company's stock worth $292,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Chart Industries by 118.6% in the 1st quarter. GAMMA Investing LLC now owns 1,270 shares of the industrial products company's stock worth $183,000 after buying an additional 689 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Chart Industries by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 308,963 shares of the industrial products company's stock worth $44,602,000 after buying an additional 6,681 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Chart Industries by 7.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 57,617 shares of the industrial products company's stock worth $8,318,000 after buying an additional 3,948 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Chart Industries by 1.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock valued at $979,000 after buying an additional 98 shares in the last quarter.

About Chart Industries

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.