Nordson Corp. (NDSN) Given Average Recommendation of “Buy” by Brokerages
Nordson Corp. (NASDAQ:NDSN) has earned a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the company. Five equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $103.90.
NDSN has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Nordson Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Barrington Research raised their target price on shares of Nordson Corp. from $102.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 23rd. Wunderlich raised their target price on shares of Nordson Corp. from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Robert W. Baird decreased their target price on shares of Nordson Corp. from $106.00 to $91.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 24th. Finally, Oppenheimer Holdings Inc. decreased their target price on shares of Nordson Corp. from $90.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th.
In other news, insider Gregory P. Merk sold 16,600 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $100.30, for a total transaction of $1,664,980.00. Following the transaction, the insider now directly owns 45,812 shares of the company’s stock, valued at $4,594,943.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary G. Puma sold 3,768 shares of the business’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $99.36, for a total transaction of $374,388.48. Following the transaction, the director now directly owns 24,218 shares in the company, valued at $2,406,300.48. The disclosure for this sale can be found here. Insiders own 2.16% of the company’s stock.
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Several hedge funds and other institutional investors have recently bought and sold shares of NDSN. Trust Co. of Vermont boosted its position in Nordson Corp. by 3.8% in the second quarter. Trust Co. of Vermont now owns 1,245 shares of the company’s stock worth $104,000 after buying an additional 45 shares during the last quarter. Advisor Group Inc. purchased a new position in Nordson Corp. during the second quarter worth approximately $106,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Nordson Corp. during the second quarter worth approximately $121,000. Glenmede Trust Co. NA boosted its position in Nordson Corp. by 3.1% in the second quarter. Glenmede Trust Co. NA now owns 1,622 shares of the company’s stock worth $135,000 after buying an additional 49 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Nordson Corp. by 3.6% in the second quarter. Citigroup Inc. now owns 1,771 shares of the company’s stock worth $148,000 after buying an additional 62 shares during the last quarter. 64.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nordson Corp. (NASDAQ:NDSN) traded down 1.94% during midday trading on Tuesday, hitting $96.66. 76,148 shares of the company’s stock were exchanged. The stock has a market cap of $5.53 billion, a PE ratio of 22.79 and a beta of 1.33. Nordson Corp. has a 1-year low of $51.89 and a 1-year high of $102.20. The stock’s 50 day moving average is $98.65 and its 200-day moving average is $86.93.
Nordson Corp. (NASDAQ:NDSN) last issued its quarterly earnings results on Monday, August 22nd. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.14. The business earned $489.89 million during the quarter. Nordson Corp. had a net margin of 14.07% and a return on equity of 34.16%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Analysts predict that Nordson Corp. will post $4.51 earnings per share for the current fiscal year.
About Nordson Corp.
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