A number of stock research firms have changed their ratings and price targets for Gardner Denver (NYSE: GDI) during the last seven days:
- Gardner Denver was downgraded by analysts at Maxim Group from a “buy” rating to a “hold” rating. They now have a $76.00 price target on the stock.
- Gardner Denver was upgraded by analysts at KeyBanc from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. They wrote, “We are upgrading GDI based on … 1) a compelling valuation following a period of share underperformance (trading at 7.2x 2013 EV/EBITDA vs. its peer group at 9.8x EV/EBITDA); 2) a pristine balance sheet supportive of a sizable share repurchase (2013 free cash plus one turn of EBITDA supports a buyback of approximately 20% of GDI’s outstanding shares = $0.85+ of earnings power); 3) our conviction that petroleum pump demand will bottom in 2013 and begin to recover in 2014-2015 (investor sentiment and rig count to improve ahead of demand fundamentals); and 4) our view that GDI’s European restructuring is on track to accrue savings of $35 million-$40 million by 2016, supporting mid- to high-teen operating margins for the Industrial Products Group over time.”
- Gardner Denver had its price target raised by analysts at RBC Capital from $80.00 to $84.00. They now have an “outperform” rating on the stock.
- Gardner Denver had its price target raised by analysts at Robert W. Baird from $80.00 to $85.00.
- Gardner Denver was upgraded by analysts at Zacks from a “neutral” rating to an “outperform” rating. They now have a $77.00 price target on the stock.
Gardner Denver opened at 69.75 on Wednesday. Gardner Denver has a 1-year low of $45.54 and a 1-year high of $76.57. The stock’s 50-day moving average is currently $69.49. The company has a market cap of $3.428 billion and a price-to-earnings ratio of 13.12.
Gardner Denver, Inc. (Gardner Denver) designs, manufactures and markets engineered industrial machinery and related parts and services.