Nordson (NASDAQ:NDSN) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Separately, Oppenheimer reaffirmed a hold rating on shares of Nordson in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Nordson currently has an average rating of Buy and a consensus target price of $189.83.

Nordson stock opened at $207.56 on Thursday. Nordson has a one year low of $96.46 and a one year high of $212.99. The business’s fifty day moving average is $194.83 and its 200 day moving average is $184.31. The stock has a market capitalization of $12.05 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 2.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.11 and a quick ratio of 2.22.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, August 19th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. Nordson had a net margin of 15.54% and a return on equity of 19.95%. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $503.36 million. During the same quarter in the prior year, the business earned $1.62 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Nordson will post 5.42 EPS for the current fiscal year.

In other Nordson news, EVP Jeffrey A. Pembroke sold 4,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $198.70, for a total transaction of $794,800.00. Following the completion of the sale, the executive vice president now directly owns 28,009 shares of the company’s stock, valued at $5,565,388.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary G. Puma sold 1,848 shares of Nordson stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $198.12, for a total transaction of $366,125.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,848 shares of company stock worth $3,374,676. Insiders own 2.01% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NDSN. NEXT Financial Group Inc acquired a new position in shares of Nordson during the third quarter valued at about $47,000. XXEC Inc. acquired a new position in Nordson during the 3rd quarter valued at approximately $4,713,000. TAP Consulting LLC purchased a new position in shares of Nordson in the third quarter worth $2,997,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Nordson by 1.8% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 5,577 shares of the industrial products company’s stock worth $1,070,000 after buying an additional 98 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Nordson by 6.9% during the third quarter. Retirement Systems of Alabama now owns 128,863 shares of the industrial products company’s stock valued at $24,719,000 after buying an additional 8,315 shares during the last quarter. Institutional investors own 70.67% of the company’s stock.

Nordson Company Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.

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Analyst Recommendations for Nordson (NASDAQ:NDSN)

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