Chart Industries, Inc. (GTLS - Free Report) currently seems to be a smart choice for investors seeking exposure in the machinery space. Increased earnings estimates and solid fundamentals are reflective of healthy growth potential of the stock.
With $2.1-billion market capitalization, Chart Industries currently has a Zacks Rank #2 (Buy) and a VGM Score of A. It is headquartered in Ball Ground, GA. It belongs to the Zacks Manufacturing – General Industrial industry, which comes under the ambit of the Zacks Industrial Products sector.
We believe that industrial machinery companies are gaining from infrastructure investments, use of sophisticated technologies in manufacturing process, favorable policy changes in the country, growing use of e-retail, and new construction and remodeling activities. However, slower pace of growth in industrial production might be concerning.
It is worth noting that Chart Industries reported better-than-expected results for second-quarter 2019, wherein earnings surpassed the Zacks Consensus Estimate by 11.48%. The bottom line also grew 41.7% on a year-over-year basis.
Its earnings estimates were increased, reflecting bullish sentiments. Over the past 60 days, the Zacks Consensus Estimate for Chart Industries’ earnings has moved up 0.3% to $3.02 for 2019 and 5.8% to $1.09 for the fourth quarter of 2019.
Chart Industries, Inc. Price and Consensus