Nordson (NASDAQ:NDSN) Raised to Buy at StockNews.com

Nordson (NASDAQ:NDSN – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

NDSN has been the topic of a number of other research reports. Robert W. Baird boosted their price target on Nordson from $241.00 to $251.00 in a research note on Wednesday. Loop Capital dropped their price target on Nordson from $250.00 to $225.00 and set a “hold” rating on the stock in a research note on Tuesday, March 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.20.

Nordson Stock Performance

NDSN stock opened at $217.15 on Friday. The business has a 50-day moving average price of $215.38 and a 200 day moving average price of $227.35. Nordson has a 1-year low of $194.89 and a 1-year high of $251.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.17 and a quick ratio of 0.89. The company has a market capitalization of $12.43 billion, a P/E ratio of 24.37, a PEG ratio of 1.86 and a beta of 0.91.

Nordson (NASDAQ:NDSN – Get Rating) last posted its earnings results on Tuesday, May 23rd. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The company had revenue of $650.17 million for the quarter, compared to analyst estimates of $638.87 million. During the same quarter in the previous year, the firm earned $2.43 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Nordson will post 9.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordson

A number of large investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in Nordson by 18.4% in the first quarter. D.A. Davidson & CO. now owns 947 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 147 shares during the period. Panagora Asset Management Inc. lifted its holdings in Nordson by 461.0% in the first quarter. Panagora Asset Management Inc. now owns 5,296 shares of the industrial products company’s stock valued at $1,203,000 after acquiring an additional 4,352 shares during the period. Raymond James Trust N.A. lifted its holdings in Nordson by 7.5% in the first quarter. Raymond James Trust N.A. now owns 2,160 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 150 shares during the period. Vontobel Holding Ltd. acquired a new position in Nordson in the first quarter valued at approximately $219,000. Finally, Sei Investments Co. raised its stake in shares of Nordson by 2.1% during the 1st quarter. Sei Investments Co. now owns 46,732 shares of the industrial products company’s stock worth $10,615,000 after buying an additional 970 shares during the period. Hedge funds and other institutional investors own 70.40% of the company’s stock.

Nordson Company Profile

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Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.