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Chart Industries (GTLS) Moves 4.2% Higher: Will This Strength Last?

Zacks Equity Research
·2-min read

Chart Industries, Inc. (GTLS) shares rallied 4.2% in the last trading session to close at $174.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.1% gain over the past four weeks.

Chart Industries’ rally is primarily driven by optimism regarding the company’s strong momentum in cryo tank solutions and specialty products business units. Strong orders for the company’s products, supported by robust demand environment across the end markets bode well.

This equipment maker for the energy sector is expected to post quarterly earnings of $0.59 per share in its upcoming report, which represents a year-over-year change of -20.3%. Revenues are expected to be $355.33 million, up 23.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Chart Industries, the consensus EPS estimate for the quarter has been revised 20.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on GTLS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Chart Industries belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, Atlas Copco AB (ATLKY), closed the last trading session 1.2% higher at $52.93. Over the past month, ATLKY has returned 3.3%.

For Atlas Copco AB , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.43. This represents a change of +7.5% from what the company reported a year ago. Atlas Copco AB currently has a Zacks Rank of #1 (Strong Buy).


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Zacks Investment Research