Chart Industries, Inc. GTLS recently announced rewards for shareholders in the form of share buyback authorization.

The company’s shares were relatively stable yesterday and closed the trading session at $197.86.

Details on GTLS’ Share Buyback Program

Under the buyback program, Chart Industries has been authorized by its board of directors to repurchase up to $250 million worth of shares. Subject to market and other factors, the buyback can be carried out in the open market, block purchases or through privately negotiated transactions, including under Securities Exchange Act Rule 10b-18 and Rule 10b5-1 trading plans.

The company also restated its financial policy of no share buybacks or material cash acquisitions until it reaches its net leverage target of below 2.5. Chart Industries expects to reduce its debt level to $3 billion by the end of 2025. Exiting the third quarter of 2024, GTLS’ net leverage ratio was 3.04.

Zacks Rank & Price Performance

Chart Industries, with a $8.5 billion market capitalization, currently carries a Zacks Rank #3 (Hold). It is likely to benefit from solid demand for its equipment and technology from LNG, hydrogen, data center and carbon capture markets. However, rising costs and expenses remain concerning.

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The company’s shares have gained 50.7% compared with the industry’s 19.9% growth in the past year.

The Zacks Consensus Estimate for GTLS’ 2024 earnings has remained stable at $8.91 per share over the past 30 days.

Stocks to Consider

Some better-ranked stocks from the same space are discussed below.

Graham Corporation GHM currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

GHM delivered a trailing four-quarter average earnings surprise of 101.9%. In the past 60 days, the Zacks Consensus Estimate for GHM’s fiscal 2025 earnings has increased 8.4%.

Applied Industrial Technologies AIT presently carries a Zacks Rank #2 (Buy). AIT delivered a trailing four-quarter average earnings surprise of 5%.

In the past 60 days, the consensus estimate for AIT’s 2024 earnings has inched up 0.7%.

RBC Bearings Incorporated RBC presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 2.5%.

In the past 60 days, the consensus estimate for RBC’s fiscal 2025 earnings has increased 0.5%.

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Chart Industries, Inc. (GTLS) : Free Stock Analysis Report

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