Chart Industries (NYSE:GTLS) Hits New 52-Week High – Here’s Why

Chart Industries, Inc. (NYSE:GTLS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $209.18 and last traded at $208.9950, with a volume of 416354 shares changing hands. The stock had previously closed at $208.94.

Analysts Set New Price Targets

GTLS has been the subject of several research reports. Wall Street Zen upgraded shares of Chart Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Chart Industries in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded Chart Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Eleven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $201.80.

Chart Industries Stock Performance

The company’s fifty day simple moving average is $207.71 and its two-hundred day simple moving average is $207.22. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 803.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.21 and a current ratio of 1.53.

Institutional Investors Weigh In On Chart Industries

Institutional investors have recently made changes to their positions in the company. Angelo Gordon & CO. L.P. acquired a new position in Chart Industries in the third quarter worth $2,602,000. Magnetar Financial LLC lifted its position in shares of Chart Industries by 23.3% in the 3rd quarter. Magnetar Financial LLC now owns 382,078 shares of the industrial products company’s stock worth $76,473,000 after buying an additional 72,078 shares during the last quarter. M&T Bank Corp grew its position in shares of Chart Industries by 2,212.5% during the 4th quarter. M&T Bank Corp now owns 52,911 shares of the industrial products company’s stock valued at $10,912,000 after buying an additional 50,623 shares during the last quarter. Centiva Capital LP acquired a new stake in Chart Industries during the third quarter worth about $12,009,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Chart Industries by 254.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 145,401 shares of the industrial products company’s stock valued at $29,102,000 after purchasing an additional 104,358 shares during the last quarter.

About Chart Industries

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.