Nordson (NASDAQ:NDSN) Coverage Initiated by Analysts at Wolfe Research

Research analysts at Wolfe Research started coverage on shares of Nordson (NASDAQ:NDSN) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “peer perform” rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price target on the stock in a report on Friday, May 30th. BNP Paribas lowered shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target on the stock. in a report on Monday, February 24th. Robert W. Baird lifted their price target on shares of Nordson from $241.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Finally, KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.00.

Nordson Price Performance

NDSN stock opened at $213.53 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. Nordson has a 12 month low of $165.03 and a 12 month high of $266.86. The firm has a market cap of $12.07 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.64 and a beta of 0.89. The company’s 50-day moving average price is $199.16 and its two-hundred day moving average price is $207.76.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million for the quarter, compared to analyst estimates of $671.36 million. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. On average, analysts anticipate that Nordson will post 10.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordson

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Nordson during the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its position in Nordson by 86.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after buying an additional 89 shares during the period. Harbour Investments Inc. boosted its position in Nordson by 36.7% during the 1st quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock worth $41,000 after buying an additional 54 shares during the period. National Pension Service boosted its position in Nordson by 74.8% during the 1st quarter. National Pension Service now owns 201 shares of the industrial products company’s stock worth $41,000 after buying an additional 86 shares during the period. Finally, Tortoise Investment Management LLC lifted its position in shares of Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 115 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.

Nordson Company Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.