Credit Suisse maintains Chart Industries Inc. [GTLS] at an Outperform rating with a $128 price target


Credit Suisse maintained its Chart Industries Inc. [NASDAQ:GTLS]‎ rating to the equivalent of ‎Outperform but changed the price target ‎to $128 ‎from $109, in a research note dated December 31, ‎‎2020. That figure represents around a 6.87% ‎premium ‎from where the company’s shares closed on ‎Wednesday.‎ Other ‎analysts also revised their coverage, with Cowen’s analysts reiterating the shares ‎to “an Outperform” ‎rating in a research note to investors issued in late December. Meanwhile, Cowen ‎had maintained its ‎rating on GTLS to the earlier “an Outperform” rating, in a research note produced ‎for clients November ‎‎03, 2020. In addition, there was no change from Lake Street on October 23, 2020. ‎The rater maintained ‎GTLS to “a Buy” but assigned new target price of $111.

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Is Chart Industries Inc. [NASDAQ:GTLS] a Good ‎Buy Right Now?

It should be noted that GTLS ‎technical indicators for short, intermediate as well ‎as long term progress have placed an overall ‎average of 100% as Buy. The average signal changed from ‎‎100% Buy in the last week and compares ‎with 100% Buy in the past month. Data from Chart Industries ‎Inc.’s Trend Spotter indicated that the ‎signals were Strengthening. The stock current average is 0.4 ‎million shares in the past 20 days and the ‎short term average signal indicates a 100% Buy. In the last 50 ‎days, the average trading volume was ‎‎0.42 million shares while the medium term average advocated ‎for 100% Buy. The average long-term ‎signal stands at 100% Buy and the 100-day average volume ‎stands at 0.41 million shares.‎‎

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GTLS Price Performance

On Wall Street, Chart Industries Inc. ‎‎[NASDAQ:GTLS] finished ‎Wednesday’s session up 3.63% at $119.77. The stock went up to $120.005 at ‎the same session while its ‎lowest single day price was $116.02. In the last five days, it saw a rise of ‎about 0.69%, Chart Industries ‎Inc. shares gained by almost 77.46% since the beginning of the year. ‎However, the share price has ‎dropped to as low as -2.81% below its one year high. On 12/23/20, the ‎company shares recorded ‎‎$123.23, the highest single-day price it has got to in the last 52-weeks and a ‎‎52-week low was seen on ‎‎03/23/20, the same year at $15.00. The company’s shares have inclined by ‎‎77.46% in the past year. The ‎‎50-day SMA achieved is $101.31 while the 200-day SMA is $63.80. Volume ‎dropped to 0.2 million from ‎‎0.27 million in the previous session.‎‎

Chart Industries Inc. [GTLS] ‎Valuation Measures

Notably, Chart Industries Inc. [GTLS] stock ‎cannot be classified as a good ‎candidate in the listing of underestimated low-priced Specialty Industrial ‎Machinery companies to ‎purchase soonest possible with the prevailing 12-month PE ratio of 98.01. The ‎measure means the ‎stock is exchanging at a premium as compared to the 25.34x trailing earnings of ‎the industry. It can be ‎helpful for investors to consider historical price-sales ratio, more specifically, a ‎‎3.60 PS value ratio is ‎reported for the last one year of reported earnings. That is higher than the ‎industry average of 1.33 ‎which means GTLS serve an unattractive investment opportunity compared to ‎its competitors.‎‎‎

GTLS Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing ‎is ‎perceived around 117.19 level, and in case of violation of this particular level, it will cause more drop ‎to ‎‎114.61 level. On the upper level, 122.58 is still the key resistance. The stock may increase to ‎the ‎subsequent resistance at 121.18. The Relative Strength Index (RSI) pinned on the 14-day chart is ‎‎63.01, ‎implying a neutral technical stance while the MACD stands at 1.37, meaning price will increase in ‎the ‎next trading period. Percent R indicator moved to 26.66%, implying bullish price movement. ‎Stochastic ‎‎%K at 61.98% suggest selling the stock.‎‎

What is the short interest in Chart Industries ‎Inc.?

Short interest in the Chart Industries Inc. ‎stock has plunged, decreasing by -0.14 million ‎shares to total 3.84 million shares on Dec 14, 2020. The ‎interest had seen shares on Nov 12, 2020 stand ‎at 3.7 million, data from Yahoo Finance shows. The ‎increase of 3.65% suggests the stock saw some ‎increased bearish sentiment. The stock’s days to cover ‎‎(short ratio) moved to while the shorted shares ‎account for just 14.35% of the overall float for the ‎stock.‎‎

Chart Industries Inc.’s Biggest ‎Shareholders: Who Owns Chart Industries Inc. [GTLS]?

Filings ‎by BlackRock Fund Advisors ‎showed that the firm now holds a total of 4,765,664 shares or roughly ‎‎13.22% of the outstanding GTLS ‎shares. This means their shares have reduced by -90,026 from the ‎‎4,765,664 the investor reportedly ‎held in its prior 13-F filing. With the conclusion of the sale, The ‎Vanguard Group, Inc. updated stake is ‎worth $360,063,242. Details in the latest 13F filings reveal that T. ‎Rowe Price Associates, Inc. acquired ‎their 111.28% stake valued at $285,236,287 while Dimensional ‎Fund Advisors LP cut theirs at ‎‎$195,951,128. During the last quarter, T. Rowe Price Associates, Inc. ‎raised 1,453,479 of its shares in ‎Chart Industries Inc. while Dimensional Fund Advisors LP sold -26,290 ‎shares. The Wellington ‎Management Co. LLP’s holdings currently number 1,711,117 shares at ‎‎$204940483.09. According to the ‎firm’s last 13F report, SSgA Funds Management, Inc. shares in the ‎company at filing stood at 1,085,356 ‎shares, roughly $112,182,396.‎‎

GTLS Earnings Forecast For The Current Quarter

Chart ‎Industries Inc. [GTLS] is expected to ‎report strong earnings results for the quarter ending on Dec 2020. ‎Consensus estimates give the ‎company expected revenues of $305.23M and an earnings per share of ‎‎$0.77 for Dec 2020. Looking ‎further ahead, the company is expected to report revenue of $306.87M at ‎an EPS of $0.78 for Mar ‎‎2021. The estimates represent downside of 6.00% and 32.27% in the company’s ‎revenue and earnings ‎per share, respectively, on a year-on-year basis.‎‎

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GTLS Earnings Estimates For The ‎Current ‎Year

For the financial year, Chart Industries Inc. [NASDAQ:GTLS] is expected to bring in ‎revenue ‎of $1.2B. The returns are nearly $-100.0 million lower than the company’s actual revenue ‎recorded in ‎the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.5, lower than that of ‎FY19 by -‎‎$0.02. Estimates put this year’s earnings growth at -0.80%, 32.00% for the next, and at an ‎annual ‎‎15.69% over the next 5-year period. As for sales, forecasts are for a decrease of -7.70% in the ‎current ‎fiscal year and a further 6.00% over the following year.‎


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