Worth Watching: Is Buying 52-Week Stock Like Chart Industries, Inc. a Winning Strategy?

Worth Watching: Is Buying 52 Week Stock Like Chart Industries, Inc. a Winning Strategy?

The stock of Chart Industries, Inc. (NASDAQ:GTLS) hit a new 52-week high and has $39.39 target or 9.00% above today’s $36.14 share price. The 7 months bullish chart indicates low risk for the $1.15B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $39.39 price target is reached, the company will be worth $103.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 175,913 shares traded hands. Chart Industries, Inc. (NASDAQ:GTLS) has risen 44.98% since April 28, 2016 and is uptrending. It has outperformed by 39.06% the S&P500.

Analysts await Chart Industries, Inc. (NASDAQ:GTLS) to report earnings on February, 23. They expect $0.11 EPS, down 42.11% or $0.08 from last year’s $0.19 per share. GTLS’s profit will be $3.50M for 82.14 P/E if the $0.11 EPS becomes a reality. After $0.53 actual EPS reported by Chart Industries, Inc. for the previous quarter, Wall Street now forecasts -79.25% negative EPS growth.

Chart Industries, Inc. (NASDAQ:GTLS) Ratings Coverage

Out of 8 analysts covering Chart Industries (NASDAQ:GTLS), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. Chart Industries has been the topic of 13 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Morgan Stanley downgraded Chart Industries, Inc. (NASDAQ:GTLS) on Wednesday, November 4 to “Equal-Weight” rating. The firm has “Hold” rating by Evercore given on Thursday, August 4. The rating was downgraded by Lake Street on Friday, October 30 to “Hold”. On Tuesday, October 11 the stock rating was initiated by Gabelli with “Buy”. Northcoast downgraded the stock to “Neutral” rating in Monday, October 31 report. The stock of Chart Industries, Inc. (NASDAQ:GTLS) earned “Hold” rating by Craig Hallum on Friday, October 28. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, April 19 report. The stock of Chart Industries, Inc. (NASDAQ:GTLS) has “Hold” rating given on Monday, October 31 by Evercore. Lake Street downgraded the stock to “Hold” rating in Friday, October 28 report. As per Friday, April 29, the company rating was upgraded by Lake Street.

According to Zacks Investment Research, “CHART INDUSTRIES is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end use of hydrocarbon and industrial gases. Their products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end use applications, the largest portion of which are energy related.”

More notable recent Chart Industries, Inc. (NASDAQ:GTLS) news were published by: Fool.com which released: “Chart Industries, Inc. Stays on Track As Downturn Plays Out” on October 28, 2016, also Crainscleveland.com with their article: “General counsel of Chart Industries Inc. will leave the company in November” published on October 25, 2016, Fool.com published: “Chart Industries, Inc. Stock up 10% After Earnings: Here’s Why” on July 28, 2016. More interesting news about Chart Industries, Inc. (NASDAQ:GTLS) were released by: Fool.com and their article: “Chart Industries, Inc. Holds Steady, Investing in Eventual Recovery” published on May 02, 2016 as well as Fool.com‘s news article titled: “Chart Industries, Inc. Stock Down 18% Since Brexit Vote: Here’s What Investors …” with publication date: June 27, 2016.

GTLS Company Profile

Chart Industries, Inc. (Chart), incorporated on June 25, 1992, is a diversified maker of engineered equipment for the industrial gas, energy, and biomedical industries. The Company’s equipment and engineered systems are used for low-temperature and cryogenic applications. It operates through three divisions, including Energy & Chemicals (E&C), Distribution & Storage (D&S), and BioMedical. The Company’s products include vacuum insulated containment vessels, heat exchangers, cold boxes, other cryogenic components and equipment for respiratory therapy. The Company’s E&C and D&S segment’s manufacture products used primarily in energy-related and industrial applications, such as the separation, liquefaction, distribution and storage of hydrocarbon and industrial gases. The Company, through its BioMedical segment, supplies cryogenic and other equipment used in respiratory healthcare and life sciences, including biological research and animal breeding.

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