Chart Industries (NYSE:GTLS) Shares Gap Up Following Insider Buying Activity

Chart Industries, Inc. (NYSE:GTLS) shares gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $114.98, but opened at $119.20. Chart Industries shares last traded at $115.55, with a volume of 63,230 shares trading hands.

Specifically, Director Linda S. Harty bought 5,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average cost of $48.05 per share, with a total value of $240,250.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $240,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda S. Harty bought 1,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $113.50 per share, for a total transaction of $113,500.00. Following the completion of the acquisition, the director now owns 10,640 shares in the company, valued at $1,207,640. The disclosure for this purchase can be found here. In other Chart Industries news, Director Paul E. Mahoney purchased 500 shares of Chart Industries stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $106.55 per share, for a total transaction of $53,275.00. Following the acquisition, the director now owns 2,107 shares in the company, valued at approximately $224,500.85. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI upgraded Chart Industries to a “strong-buy” rating in a report on Monday, August 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $199.00 target price on shares of Chart Industries in a research report on Monday, August 26th. Wells Fargo & Company decreased their price target on shares of Chart Industries from $179.00 to $151.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Morgan Stanley raised Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price target for the company in a research report on Monday. Finally, Bank of America upped their price objective on shares of Chart Industries from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Chart Industries currently has an average rating of “Moderate Buy” and an average price target of $185.54.

Chart Industries Stock Up 2.2 %

The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 1.28. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 117.48, a PEG ratio of 0.35 and a beta of 1.70. The business has a fifty day moving average of $131.67 and a two-hundred day moving average of $143.69.

Chart Industries (NYSE:GTLS) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.39). Chart Industries had a return on equity of 12.27% and a net margin of 2.80%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Chart Industries, Inc. will post 10.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Chart Industries

Several hedge funds and other institutional investors have recently made changes to their positions in GTLS. Allspring Global Investments Holdings LLC acquired a new stake in Chart Industries in the 1st quarter valued at about $30,000. Spire Wealth Management lifted its position in Chart Industries by 141.0% during the first quarter. Spire Wealth Management now owns 200 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in Chart Industries during the fourth quarter worth $33,000. Rise Advisors LLC grew its holdings in Chart Industries by 905.0% in the 1st quarter. Rise Advisors LLC now owns 201 shares of the industrial products company’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Chart Industries in the 2nd quarter worth $40,000.

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.