Morgan Stanley Upgrades Gardner Denver (GDI) to Overweight
Morgan Stanley upgraded shares of Gardner Denver (NYSE:GDI) from an equal weight rating to an overweight rating in a research note published on Friday, Marketbeat Ratings reports.
Several other research firms also recently commented on GDI. ValuEngine upgraded Gardner Denver from a sell rating to a hold rating in a report on Tuesday, July 31st. Piper Jaffray Companies set a $35.00 price objective on Gardner Denver and gave the stock a buy rating in a report on Wednesday, September 26th. Deutsche Bank restated a hold rating and set a $32.00 price target on shares of Gardner Denver in a research note on Thursday, July 12th. TD Securities restated an average rating and set a $24.00 price target on shares of Gardner Denver in a research note on Thursday. Finally, Zacks Investment Research downgraded Gardner Denver from a hold rating to a sell rating in a research note on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Gardner Denver presently has a consensus rating of Buy and an average target price of $33.92.
NYSE GDI traded down $0.56 during trading hours on Friday, hitting $26.55. The company’s stock had a trading volume of 3,314,908 shares, compared to its average volume of 2,168,559. Gardner Denver has a 12 month low of $23.33 and a 12 month high of $38.00. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 265.50 and a beta of 1.03. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.46 and a current ratio of 2.40.
In related news, major shareholder Fund Holdings Gp Ltd Kkr sold 20,000,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $25.66, for a total transaction of $513,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.
Several large investors have recently made changes to their positions in GDI. FMR LLC grew its stake in shares of Gardner Denver by 103.4% during the 2nd quarter. FMR LLC now owns 13,576,681 shares of the company’s stock valued at $399,019,000 after acquiring an additional 6,901,523 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Gardner Denver by 33.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 9,281,012 shares of the company’s stock valued at $272,769,000 after acquiring an additional 2,313,078 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Gardner Denver by 133.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,734,973 shares of the company’s stock valued at $80,380,000 after acquiring an additional 1,564,257 shares during the period. Wells Fargo & Company MN grew its stake in shares of Gardner Denver by 66.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,173,099 shares of the company’s stock valued at $63,868,000 after acquiring an additional 869,139 shares during the period. Finally, BlackRock Inc. lifted its holdings in Gardner Denver by 27.6% in the 2nd quarter. BlackRock Inc. now owns 3,640,909 shares of the company’s stock worth $107,008,000 after purchasing an additional 787,334 shares in 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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