Chart Industries, Inc. (NYSE:GTLS) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its position in Chart Industries, Inc. by 22% in the first quarter, leaving them with 86,270 shares valued at approximately $12.45 million.
• Barclays and Wells Fargo recently lowered their price targets for Chart Industries, now set at $169.00 and $208.00, respectively, indicating a more cautious outlook for the stock.
• The company reported strong financials for the last quarter, with an earnings per share of $1.86, surpassing estimates and achieving a year-over-year revenue increase of 38.8%.

Royce & Associates LP cut its position in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 22.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,270 shares of the industrial products company's stock after selling 24,290 shares during the quarter. Royce & Associates LP owned 0.19% of Chart Industries worth $12,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Analysts LLC acquired a new position in shares of Chart Industries in the 4th quarter valued at $25,000. Global X Japan Co. Ltd. lifted its position in Chart Industries by 142.9% during the 1st quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock worth $25,000 after buying an additional 100 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Chart Industries during the 1st quarter worth about $25,000. Hughes Financial Services LLC bought a new stake in Chart Industries during the 1st quarter worth about $44,000. Finally, Byrne Asset Management LLC bought a new stake in Chart Industries during the 1st quarter worth about $45,000.

Chart Industries Trading Down 0.1%

Shares of NYSE:GTLS traded down $0.19 on Monday, hitting $171.60. The company had a trading volume of 242,115 shares, compared to its average volume of 768,563. Chart Industries, Inc. has a 1 year low of $101.60 and a 1 year high of $220.03. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 0.67 and a beta of 1.68. The firm's 50-day simple moving average is $159.38 and its two-hundred day simple moving average is $163.98. The company has a quick ratio of 1.21, a current ratio of 1.51 and a debt-to-equity ratio of 1.18.

Chart Industries (NYSE:GTLS - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.02. Chart Industries had a net margin of 5.93% and a return on equity of 13.93%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $1.49 earnings per share. The firm's quarterly revenue was up 38.8% compared to the same quarter last year. Equities analysts anticipate that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. TD Cowen decreased their price target on shares of Chart Industries from $210.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company decreased their price target on shares of Chart Industries from $214.00 to $208.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus decreased 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 note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $199.82.

Chart Industries 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.