Morgan Stanley Trims Gardner Denver (NYSE:GDI) Target Price to $35.00

Gardner Denver (NYSE:GDI) had its target price trimmed by Morgan Stanley from $37.00 to $35.00 in a research report released on Wednesday morning, AnalystRatings.com reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on GDI. Barclays reaffirmed a hold rating and set a $30.00 price target on shares of Gardner Denver in a research report on Wednesday, September 4th. Zacks Investment Research raised Gardner Denver from a strong sell rating to a hold rating in a research report on Wednesday. ValuEngine cut Gardner Denver from a buy rating to a hold rating in a research report on Saturday, August 10th. TheStreet cut Gardner Denver from a b- rating to a c rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus dropped their price target on Gardner Denver from $35.00 to $33.00 and set a hold rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $32.71.

NYSE:GDI traded up $0.39 during trading on Wednesday, reaching $28.22. The company’s stock had a trading volume of 962,529 shares, compared to its average volume of 1,537,132. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 21.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.53 and a current ratio of 2.48. The firm has a 50 day moving average of $29.05 and a 200-day moving average of $31.18. Gardner Denver has a 12 month low of $18.70 and a 12 month high of $36.22.

Gardner Denver (NYSE:GDI) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. The firm had revenue of $629.10 million during the quarter, compared to the consensus estimate of $634.46 million. Gardner Denver had a return on equity of 15.17% and a net margin of 9.76%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities research analysts forecast that Gardner Denver will post 0.81 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Gardner Denver by 26.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 23,643,913 shares of the company’s stock valued at $818,079,000 after acquiring an additional 4,946,203 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Gardner Denver by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 11,677,493 shares of the company’s stock valued at $404,040,000 after purchasing an additional 170,345 shares during the last quarter. FMR LLC increased its position in shares of Gardner Denver by 1.2% during the 1st quarter. FMR LLC now owns 8,343,064 shares of the company’s stock valued at $232,021,000 after purchasing an additional 99,343 shares during the last quarter. BlackRock Inc. increased its position in shares of Gardner Denver by 1.0% during the 2nd quarter. BlackRock Inc. now owns 5,368,376 shares of the company’s stock valued at $185,747,000 after purchasing an additional 52,732 shares during the last quarter. Finally, Waddell & Reed Financial Inc. increased its position in shares of Gardner Denver by 113.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 3,220,286 shares of the company’s stock valued at $111,422,000 after purchasing an additional 1,708,700 shares during the last quarter.

About Gardner Denver

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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