Nordson’s (NDSN) Buy Rating Reaffirmed at KeyCorp

Nordson (NASDAQ:NDSN)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a note issued to investors on Wednesday. They presently have a $165.00 price objective on the industrial products company’s stock, up from their prior price objective of $145.00. KeyCorp’s price target would indicate a potential upside of 11.93% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Gabelli downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Friday, December 15th. SunTrust Banks increased their price objective on shares of Nordson to $166.00 and gave the company a “buy” rating in a report on Friday, December 15th. Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. B. Riley reiterated a “buy” rating and issued a $160.00 price objective on shares of Nordson in a report on Wednesday, December 13th. Finally, Oppenheimer reiterated a “hold” rating on shares of Nordson in a report on Thursday, December 14th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Nordson currently has a consensus rating of “Buy” and an average target price of $147.40.

Nordson (NDSN) traded up $1.02 during mid-day trading on Wednesday, hitting $147.42. 266,200 shares of the stock traded hands, compared to its average volume of 235,400. Nordson has a twelve month low of $107.16 and a twelve month high of $150.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.96 and a current ratio of 1.37. The stock has a market cap of $8,453.96, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.59 and a beta of 1.39.

Nordson (NASDAQ:NDSN) last released its quarterly earnings results on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.05. Nordson had a net margin of 14.31% and a return on equity of 30.54%. The firm had revenue of $574.00 million during the quarter, compared to the consensus estimate of $546.76 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. research analysts expect that Nordson will post 6.23 EPS for the current year.

In other Nordson news, VP Robert E. Veillette sold 1,594 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $142.19, for a total value of $226,650.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.15% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Nordson in the 2nd quarter valued at $104,000. D.A. Davidson & CO. raised its stake in Nordson by 2.3% during the 2nd quarter. D.A. Davidson & CO. now owns 974 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 22 shares in the last quarter. Quantbot Technologies LP raised its stake in Nordson by 1,168.2% during the 3rd quarter. Quantbot Technologies LP now owns 1,636 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 1,507 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in Nordson during the 2nd quarter worth $210,000. Finally, Bridgewater Associates LP acquired a new stake in Nordson during the 2nd quarter worth $228,000. 65.67% of the stock is owned by institutional investors.

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Nordson Company Profile

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.

Analyst Recommendations for Nordson (NASDAQ:NDSN)

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