Zacks Investment Research Upgrades Nordson Corporation (NDSN) to “Hold”
Nordson Corporation (NASDAQ:NDSN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Over the long term, Nordson is poised to benefit from diversified product portfolio and strategic acquisitions. In March, the company acquired assets of Vention Medical's Advanced Technologies business. Also, it remains committed toward rewarding its shareholders through dividend payments and share buybacks. However, the company is exposed to risks arising from international diversity and higher costs and debt levels. Also, difficulties or delays in research and development of products, failure of new products and technologies and intense competition might dent the company's profitability. Over the last three months, Nordson's shares have underperformed the industry. For the fiscal fourth quarter, the company anticipates net sales to grow 4-8% year over year, weaker compared with 20% sales growth recorded in the previous quarter.”
NDSN has been the topic of several other research reports. Robert W. Baird reaffirmed a “hold” rating and issued a $128.00 price target on shares of Nordson Corporation in a report on Thursday, August 24th. FBR & Co set a $160.00 target price on Nordson Corporation and gave the company a “buy” rating in a research note on Monday. BidaskClub cut Nordson Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Wellington Shields raised Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Friday, June 2nd. Finally, Gabelli raised Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $138.00.
Nordson Corporation (NASDAQ:NDSN) traded up 0.12% during midday trading on Wednesday, hitting $112.92. The company had a trading volume of 47,336 shares. Nordson Corporation has a 52 week low of $94.56 and a 52 week high of $131.49. The firm’s 50 day moving average is $119.95 and its 200-day moving average is $121.87. The firm has a market capitalization of $6.51 billion, a P/E ratio of 22.45 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $574.20 million. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. On average, equities research analysts expect that Nordson Corporation will post $5.31 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NDSN. Mckinley Capital Management LLC Delaware purchased a new stake in Nordson Corporation during the second quarter valued at about $104,000. Financial Architects Inc boosted its position in Nordson Corporation by 12.1% during the second quarter. Financial Architects Inc now owns 926 shares of the industrial products company’s stock valued at $112,000 after buying an additional 100 shares during the period. D.A. Davidson & CO. boosted its position in Nordson Corporation by 2.3% during the second quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock valued at $118,000 after buying an additional 22 shares during the period. IFP Advisors Inc boosted its position in Nordson Corporation by 1.5% during the second quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after buying an additional 21 shares during the period. Finally, Opus Capital Group LLC purchased a new stake in Nordson Corporation during the second quarter valued at about $208,000. 66.03% of the stock is currently owned by institutional investors and hedge funds.
About Nordson Corporation
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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