Nordson Corporation (NDSN) Lifted to “Buy” at Zacks Investment Research
Nordson Corporation (NASDAQ:NDSN) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $140.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.56% from the stock’s current price.
According to Zacks, “In the last month, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from diversified product portfolio and strategic acquisitions in the long run. 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. In the last 60 days, earnings estimates improved for both fiscal 2017 and fiscal 2018.”
A number of other equities research analysts also recently issued reports on NDSN. BidaskClub upgraded Nordson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. FBR & Co restated an “outperform” rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. Gabelli upgraded Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, August 23rd. Robert W. Baird restated a “hold” rating and set a $128.00 price objective on shares of Nordson Corporation in a research report on Thursday, August 24th. Finally, Longbow Research upgraded Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Wednesday, September 20th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $141.00.
Nordson Corporation (NASDAQ:NDSN) traded up 0.56% during trading on Tuesday, reaching $126.19. The company had a trading volume of 77,753 shares. Nordson Corporation has a one year low of $96.05 and a one year high of $131.49. The firm’s 50 day moving average is $118.01 and its 200 day moving average is $120.99. The company has a market capitalization of $7.28 billion, a PE ratio of 25.09 and a beta of 1.37.
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, beating analysts’ consensus estimates of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The business had revenue of $589.40 million for the quarter, compared to the consensus estimate of $574.20 million. During the same period in the prior year, the business posted $1.67 earnings per share. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, equities research analysts predict that Nordson Corporation will post $5.32 earnings per share for the current year.
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In other news, VP James E. Devries sold 5,000 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the sale, the vice president now directly owns 41,937 shares in the company, valued at $4,948,985.37. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.15% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Davis R M Inc. purchased a new stake in shares of Nordson Corporation in the third quarter worth approximately $2,583,000. Fox Run Management L.L.C. bought a new position in Nordson Corporation in the third quarter worth approximately $308,000. Strs Ohio grew its stake in Nordson Corporation by 54.5% in the third quarter. Strs Ohio now owns 85,000 shares of the industrial products company’s stock worth $10,072,000 after purchasing an additional 30,000 shares in the last quarter. Oakbrook Investments LLC bought a new position in Nordson Corporation in the third quarter worth approximately $240,000. Finally, Fisher Asset Management LLC bought a new position in Nordson Corporation in the third quarter worth approximately $245,000. Hedge funds and other institutional investors own 65.51% of the company’s stock.
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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