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.