Chart Industries (NYSE:GTLS) Stock Price Down 17.5% – Here’s Why

Shares of Chart Industries, Inc. (NYSE:GTLS) traded down 17.5% during trading on Thursday . The company traded as low as $124.82 and last traded at $124.88. 749,036 shares were traded during trading, an increase of 10% from the average session volume of 678,427 shares. The stock had previously closed at $151.31.

Analyst Upgrades and Downgrades

GTLS has been the subject of several recent research reports. Citigroup boosted their target price on shares of Chart Industries from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. BTIG Research lifted their target price on Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, December 16th. The Goldman Sachs Group raised their price objective on Chart Industries from $138.00 to $201.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. TD Cowen increased their target price on shares of Chart Industries from $205.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Chart Industries from $200.00 to $231.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.83.

Chart Industries Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.00. The firm has a market capitalization of $5.28 billion, a PE ratio of 33.47, a P/E/G ratio of 0.57 and a beta of 1.87. The company’s fifty day simple moving average is $173.52 and its 200 day simple moving average is $168.75.

Chart Industries (NYSE:GTLS) last released its quarterly earnings data on Friday, February 28th. The industrial products company reported $2.66 EPS for the quarter, missing the consensus estimate of $3.20 by ($0.54). Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Insider Activity at Chart Industries

In other news, Director Linda S. Harty purchased 500 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $140.85 per share, with a total value of $70,425.00. Following the completion of the acquisition, the director now owns 11,684 shares in the company, valued at $1,645,691.40. This trade represents a 4.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jillian C. Evanko acquired 350 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $150.35 per share, with a total value of $52,622.50. Following the purchase, the chief executive officer now directly owns 137,666 shares of the company’s stock, valued at $20,698,083.10. This trade represents a 0.25 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,109 shares of company stock worth $160,845. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chart Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of GTLS. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Chart Industries by 653.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 791 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 686 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Chart Industries during the fourth quarter worth about $581,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Chart Industries in the 4th quarter worth about $6,917,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Chart Industries in the 4th quarter worth about $11,498,000. Finally, Neo Ivy Capital Management bought a new position in shares of Chart Industries during the 4th quarter valued at about $1,783,000.

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.