SunTrust Banks, Inc. Reaffirms Buy Rating for Nordson Corporation (NDSN)
Nordson Corporation (NASDAQ:NDSN)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They currently have a $135.00 price target on the industrial products company’s stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 7.01% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the stock. FBR & Co set a $160.00 price target on shares of Nordson Corporation and gave the company a “buy” rating in a report on Monday, September 11th. Gabelli upgraded shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, August 23rd. Robert W. Baird reiterated a “hold” rating and issued a $128.00 target price on shares of Nordson Corporation in a research note on Thursday, August 24th. KeyCorp reiterated a “buy” rating and issued a $145.00 target price on shares of Nordson Corporation in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Nordson Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $140.33.
Shares of Nordson Corporation (NASDAQ NDSN) traded down 0.76% during mid-day trading on Friday, reaching $126.16. The company had a trading volume of 183,436 shares. The company has a market capitalization of $7.28 billion, a PE ratio of 25.09 and a beta of 1.37. Nordson Corporation has a 52-week low of $96.05 and a 52-week high of $131.49. The company’s 50-day moving average price is $119.64 and its 200-day moving average price is $121.12.
Nordson Corporation (NASDAQ:NDSN) last released its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating 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 company 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 earned $1.67 earnings per share. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. On average, analysts forecast that Nordson Corporation will post $5.32 earnings per share for the current fiscal year.
In related news, VP James E. Devries sold 5,000 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $118.01, for a total value of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.15% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new position in Nordson Corporation in the second quarter worth about $104,000. Financial Architects Inc raised its position in Nordson Corporation by 12.1% in the second quarter. Financial Architects Inc now owns 926 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 100 shares in the last quarter. D.A. Davidson & CO. raised its position in Nordson Corporation by 2.3% in the second quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 22 shares in the last quarter. IFP Advisors Inc raised its position in Nordson Corporation by 1.5% in the second quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 21 shares in the last quarter. Finally, Opus Capital Group LLC acquired a new position in Nordson Corporation in the second quarter worth about $208,000. 65.51% of the stock is owned by hedge funds and other institutional investors.
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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