KeyBanc Downgrades Gardner Denver Corp. (GDI) to Hold

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KeyBanc downgraded Gardner Denver Corp. (NYSE: GDI) from Buy to Hold. The downgraded reflects KeyBanc’s more cautious view of the drilling pump landscape as well as broader slowing in its industrial businesses globally.

"In addition to choppy demand trends and forward earnings risk, we see shares as range bound until the Company works through its CEO transition and recent management turnover issues," said analyst Jeffrey D. Hammond.

For an analyst ratings summary and ratings history on Gardner Denver Corp. click here. For more ratings news on Gardner Denver Corp. click here.

Shares of Gardner Denver Corp. closed at $61.18 yesterday, with a 52 week range of $45.54-$86.99.

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