Chart Industries, Inc. (GTLS) Trading -0.6% Higher on Earnings Beat

Chart Industries, Inc. (NASDAQ:GTLS) shares traded up 0.6% during trading on Friday following a better than expected earnings announcement. The company traded as high as $45.18 and last traded at $44.61. 331,388 shares traded hands during trading, an increase of 55% from the average session volume of 213,725 shares. The stock had previously closed at $44.88.

The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $240.50 million for the quarter, compared to the consensus estimate of $235.96 million. Chart Industries had a net margin of 1.35% and a return on equity of 3.28%. Chart Industries’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS.

Several analysts have weighed in on the stock. Lake Street Capital boosted their target price on shares of Chart Industries from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. Seaport Global Securities raised shares of Chart Industries from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday. Cowen and Company reissued a “hold” rating and set a $40.00 target price on shares of Chart Industries in a research report on Sunday, October 22nd. Northcoast Research raised shares of Chart Industries from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, October 9th. Finally, Johnson Rice reissued a “buy” rating and set a $48.00 target price (up previously from $42.00) on shares of Chart Industries in a research report on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.71.

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Chart Industries by 2.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,282 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 168 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Chart Industries by 16.2% in the 2nd quarter. Aperio Group LLC now owns 12,011 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 1,677 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Chart Industries by 8.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 216,287 shares of the industrial products company’s stock valued at $7,558,000 after acquiring an additional 17,044 shares during the last quarter. Vivaldi Asset Management LLC purchased a new stake in shares of Chart Industries in the 2nd quarter valued at $2,858,000. Finally, South Dakota Investment Council boosted its holdings in shares of Chart Industries by 101.5% in the 2nd quarter. South Dakota Investment Council now owns 27,000 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 13,600 shares during the last quarter. 85.61% of the stock is currently owned by institutional investors and hedge funds.

The company’s 50 day moving average is $39.63 and its 200-day moving average is $35.95. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 117.92 and a beta of 1.28.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.dispatchtribunal.com/2017/10/27/chart-industries-inc-gtls-trading-0-6-higher-on-earnings-beat.html.

About Chart Industries

Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.

Receive News & Ratings for Chart Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chart Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply