Robert W. Baird Reaffirms “Hold” Rating for Nordson Corporation (NDSN)
Nordson Corporation (NASDAQ:NDSN)‘s stock had its “hold” rating reaffirmed by Robert W. Baird in a report released on Wednesday. They currently have a $138.00 price target on the industrial products company’s stock. Robert W. Baird’s target price suggests a potential upside of 13.97% from the company’s previous close.
A number of other research firms have also recently issued reports on NDSN. Zacks Investment Research cut shares of Nordson Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. BidaskClub upgraded shares of Nordson Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Gabelli upgraded shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, August 23rd. Longbow Research upgraded shares of Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, September 20th. Finally, FBR & Co restated an “outperform” rating on shares of Nordson Corporation in a report on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Nordson Corporation currently has a consensus rating of “Buy” and a consensus target price of $139.71.
Shares of Nordson Corporation (NASDAQ NDSN) traded up 0.97% during mid-day trading on Wednesday, hitting $121.08. The stock had a trading volume of 245,310 shares. The company has a market cap of $6.99 billion, a PE ratio of 24.08 and a beta of 1.37. The firm’s 50 day moving average price is $114.85 and its 200-day moving average price is $120.96. Nordson Corporation has a one year low of $95.35 and a one year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. The firm had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $574.20 million. During the same period in the prior year, the company posted $1.67 earnings per share. Nordson Corporation’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, equities research analysts anticipate that Nordson Corporation will post $5.32 earnings per share for the current fiscal year.
In other news, VP James E. Devries sold 5,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $118.01, for a total transaction of $590,050.00. Following the completion of the transaction, the vice president now owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.15% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NDSN. Mckinley Capital Management LLC Delaware acquired a new position in shares of Nordson Corporation during the second quarter valued at about $104,000. Financial Architects Inc raised its position in shares of 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 last quarter. D.A. Davidson & CO. raised its position in shares of 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 last quarter. IFP Advisors Inc raised its position in shares of 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 last quarter. Finally, Opus Capital Group LLC acquired a new position in shares of Nordson Corporation during the second quarter valued at about $208,000. 65.48% of the stock is 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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