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Chart Industries (GTLS) Soars 9.3%: Is Further Upside Left in the Stock?
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Chart Industries (GTLS - Free Report) shares ended the last trading session 9.3% higher at $127.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% loss over the past four weeks.
The stock gained primarily on optimism surrounding easing supply chain disruptions and, reduction in raw material costs owing to deceleration in inflation.
This equipment maker for the energy sector is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -38.7%. Revenues are expected to be $483.24 million, up 36.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Chart Industries, the consensus EPS estimate for the quarter has been revised 96.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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.
Chart Industries is part of the Zacks Manufacturing - General Industrial industry. Atlas Copco AB (ATLKY - Free Report) , another stock in the same industry, closed the last trading session 4.3% higher at $11.91. ATLKY has returned -6.5% in the past month.
Atlas Copco AB's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. Compared to the company's year-ago EPS, this represents no change. Atlas Copco AB currently boasts a Zacks Rank of #3 (Hold).
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Chart Industries (GTLS) Soars 9.3%: Is Further Upside Left in the Stock?
Chart Industries (GTLS - Free Report) shares ended the last trading session 9.3% higher at $127.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% loss over the past four weeks.
The stock gained primarily on optimism surrounding easing supply chain disruptions and, reduction in raw material costs owing to deceleration in inflation.
This equipment maker for the energy sector is expected to post quarterly earnings of $0.38 per share in its upcoming report, which represents a year-over-year change of -38.7%. Revenues are expected to be $483.24 million, up 36.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Chart Industries, the consensus EPS estimate for the quarter has been revised 96.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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 is part of the Zacks Manufacturing - General Industrial industry. Atlas Copco AB (ATLKY - Free Report) , another stock in the same industry, closed the last trading session 4.3% higher at $11.91. ATLKY has returned -6.5% in the past month.
Atlas Copco AB's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. Compared to the company's year-ago EPS, this represents no change. Atlas Copco AB currently boasts a Zacks Rank of #3 (Hold).