Park Avenue Securities LLC Takes Position in Chart Industries, Inc. $GTLS

Key Points

• Park Avenue Securities LLC has acquired a new stake in Chart Industries, purchasing 2,059 shares valued at approximately $339,000 during Q2.
• Chart Industries reported Q2 earnings of $2.59 per share, missing estimates by $0.03, with revenue of $1.08 billion, below the forecast of $1.11 billion.
• Analysts have varied opinions on the stock, with Barclays and Cowen reducing their price targets, while the average rating remains at "Hold" with a target price of $202.00.

Park Avenue Securities LLC purchased a new stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,059 shares of the industrial products company's stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of Chart Industries by 142.9% during the first quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Chart Industries in the first quarter valued at about $25,000. Brooklyn Investment Group lifted its holdings in Chart Industries by 19,900.0% in the first quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 199 shares during the period. SVB Wealth LLC bought a new position in Chart Industries in the first quarter valued at about $30,000. Finally, Atticus Wealth Management LLC bought a new position in Chart Industries in the second quarter valued at about $34,000.

Chart Industries Price Performance

NYSE:GTLS opened at $200.13 on Wednesday. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.16 and a beta of 1.67. Chart Industries, Inc. has a 1 year low of $104.60 and a 1 year high of $220.03. The business has a 50 day simple moving average of $196.83 and a 200-day simple moving average of $166.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.55 and a quick ratio of 1.27.

Chart Industries (NYSE:GTLS - Get Free Report) last posted 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). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. Equities analysts forecast that Chart Industries, Inc. will post 9.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays reduced their price target on Chart Industries from $171.00 to $169.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Cowen cut Chart Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Raymond James Financial reiterated a "market perform" rating on shares of Chart Industries in a research report on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and set a $210.00 target price (down previously from $225.00) on shares of Chart Industries in a research report on Wednesday, July 30th. Finally, BTIG Research cut Chart Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $202.00.

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.

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