Chart Industries (NYSE:GTLS) Shares Down 9.5% Following Weak Earnings

Shares of Chart Industries, Inc. (NYSE:GTLS) fell 9.5% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $172.70 and last traded at $172.40. 696,546 shares changed hands during trading, an increase of 10% from the average session volume of 634,012 shares. The stock had previously closed at $190.55.

The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.20 by ($0.54). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. Chart Industries’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $2.25 earnings per share.

Analysts Set New Price Targets

Several brokerages have weighed in on GTLS. Wells Fargo & Company dropped their price target on Chart Industries from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen upped their price objective on shares of Chart Industries from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James reissued a “strong-buy” rating and set a $190.00 target price on shares of Chart Industries in a research report on Monday, December 2nd. Barclays lowered their price target on shares of Chart Industries from $146.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, BTIG Research lifted their price objective on shares of Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Chart Industries currently has a consensus rating of “Moderate Buy” and an average price target of $192.54.

Institutional Investors Weigh In On Chart Industries

Large investors have recently modified their holdings of the business. National Bank of Canada FI boosted its stake in Chart Industries by 328.7% in the 3rd quarter. National Bank of Canada FI now owns 6,757 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 5,181 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Chart Industries by 248.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 22,257 shares of the industrial products company’s stock worth $2,744,000 after buying an additional 15,862 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Chart Industries by 2.3% during the third quarter. Fisher Asset Management LLC now owns 592,486 shares of the industrial products company’s stock valued at $73,551,000 after buying an additional 13,181 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. increased its position in shares of Chart Industries by 26.7% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 9,500 shares of the industrial products company’s stock valued at $1,813,000 after acquiring an additional 2,000 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in Chart Industries in the 3rd quarter worth $373,000.

Chart Industries Trading Down 13.9 %

The company has a current ratio of 1.27, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The stock has a 50-day simple moving average of $199.18 and a 200 day simple moving average of $164.01. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 47.53, a PEG ratio of 0.57 and a beta of 1.84.

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.