Gardner Denver (GDI): Share price defines bullish 'pennant'

Filed under: Earnings reports, Analyst upgrades and downgrades, Technical Analysis, Stocks to Buy

Gardner Denver (NYSE: GDI) makes compressors, pumps, blowers and other fluid transfer equipment for a variety of industrial applications. Its compressors are used with air tools and aid in the processing of petroleum and pharmaceuticals. Its blowers are used to power pneumatic conveying and wastewater aeration systems. Its pumps support oil and natural gas drilling, vacuum applications, water removal and filtering. The firm also provides loading arms, swivel joints, couplers and access equipment used in loading and unloading ships, tank trucks and rail cars. Ingersoll-Rand (NYSE: IR) and EnPro Industries (NYSE: NPO) are competitors.

Investors were pleased last week, when the company reported Q1 EPS of 95 cents and revenues of $495.7 million. Analysts had been looking for 80 cents and $474.4 million. Cash provided by quarterly operating activities was 76% higher than in Q1 2007. Management also guided Q2 EPS to 88-92 cents (85 cent consensus) and FY08 EPS to $3.65-$3.75 ($3.36 consensus). Friedman Billings subsequently reiterated its "outperform" rating on the stock.

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