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

Gardner Denver Holdings Inc (NYSE:GDI) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.15, but opened at $25.92. Gardner Denver shares last traded at $26.57, with a volume of 2393458 shares.

The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Gardner Denver had a return on equity of 19.22% and a net margin of 10.02%. The company had revenue of $712.70 million for the quarter, compared to analysts’ expectations of $726.41 million. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.

Several equities analysts have recently issued reports on GDI shares. Piper Jaffray Companies reiterated a “buy” rating and set a $32.00 price target on shares of Gardner Denver in a research report on Monday, October 29th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price on shares of Gardner Denver in a report on Monday, October 29th. Citigroup decreased their target price on Gardner Denver from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Goldman Sachs Group upgraded Gardner Denver from a “buy” rating to a “conviction-buy” rating and set a $34.00 target price on the stock in a report on Wednesday, October 31st. Finally, TD Securities restated an “average” rating and issued a $24.00 target price on shares of Gardner Denver in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Gardner Denver currently has a consensus rating of “Buy” and a consensus target price of $30.77.

Several hedge funds and other institutional investors have recently modified their holdings of GDI. California Public Employees Retirement System lifted its position in shares of Gardner Denver by 23.3% during the second quarter. California Public Employees Retirement System now owns 63,104 shares of the company’s stock valued at $1,855,000 after buying an additional 11,904 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Gardner Denver by 27.1% during the second quarter. Bank of New York Mellon Corp now owns 281,515 shares of the company’s stock valued at $8,274,000 after buying an additional 60,015 shares during the last quarter. FMR LLC lifted its position in shares of Gardner Denver by 102.8% during the second quarter. FMR LLC now owns 13,534,514 shares of the company’s stock valued at $397,780,000 after buying an additional 6,859,356 shares during the last quarter. Northern Trust Corp lifted its position in shares of Gardner Denver by 21.0% during the second quarter. Northern Trust Corp now owns 452,608 shares of the company’s stock valued at $13,301,000 after buying an additional 78,524 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of Gardner Denver during the third quarter valued at about $411,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.46 and a current ratio of 2.40. The firm has a market cap of $5.15 billion, a PE ratio of 20.97 and a beta of 1.57.

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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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