Gardner Denver (GDI) Shares Gap Up on Better-Than-Expected Earnings

Gardner Denver Holdings Inc (NYSE:GDI) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $23.42, but opened at $24.56. Gardner Denver shares last traded at $26.11, with a volume of 3224272 shares.

The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $689.30 million during the quarter, compared to analysts’ expectations of $707.78 million. Gardner Denver had a return on equity of 23.04% and a net margin of 12.06%.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Gardner Denver from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. MED assumed coverage on Gardner Denver in a research note on Wednesday, July 11th. They issued a “buy” rating and a $36.00 price objective for the company. ValuEngine cut Gardner Denver from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Barclays restated a “hold” rating and issued a $31.00 price objective on shares of Gardner Denver in a research note on Friday, September 7th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $38.00 price objective on shares of Gardner Denver in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.10.



A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can acquired a new stake in shares of Gardner Denver in the second quarter worth approximately $107,000. Riverhead Capital Management LLC boosted its stake in shares of Gardner Denver by 114.8% in the second quarter. Riverhead Capital Management LLC now owns 6,443 shares of the company’s stock worth $189,000 after acquiring an additional 3,443 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Gardner Denver by 38.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,229 shares of the company’s stock worth $253,000 after acquiring an additional 2,286 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Gardner Denver by 36.1% in the second quarter. Great West Life Assurance Co. Can now owns 8,263 shares of the company’s stock worth $243,000 after acquiring an additional 2,191 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Gardner Denver by 70.3% in the second quarter. State of Alaska Department of Revenue now owns 11,600 shares of the company’s stock worth $340,000 after acquiring an additional 4,790 shares during the last quarter.

The company has a debt-to-equity ratio of 1.21, a current ratio of 2.53 and a quick ratio of 1.56. The company has a market capitalization of $4.89 billion, a PE ratio of 261.10 and a beta of 1.23.

About Gardner Denver (NYSE:GDI)

Gardner Denver Holdings, Inc provides mission-critical flow control and compression equipment; and associated aftermarket parts, consumables, and services in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Industrials, Energy, and Medical.

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