Wall Street Zen Downgrades Nordson (NASDAQ:NDSN) to Hold

Nordson (NASDAQ:NDSN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other research firms have also recently commented on NDSN. KeyCorp decreased their price target on shares of Nordson from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. 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 research report on Friday, May 30th. Wolfe Research assumed coverage on shares of Nordson in a research report on Wednesday, June 18th. They issued a “peer perform” rating on the stock. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a research report on Friday, May 30th. Finally, Vertical Research initiated coverage on shares of Nordson in a research report on Tuesday, June 17th. They set a “hold” rating and a $245.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.00.

Nordson Stock Performance

Shares of NDSN opened at $215.12 on Friday. The firm has a 50-day moving average price of $202.82 and a 200 day moving average price of $205.71. The firm has a market capitalization of $12.16 billion, a PE ratio of 27.65, a P/E/G ratio of 1.65 and a beta of 0.89. 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 52-week low of $165.03 and a 52-week high of $266.86.

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

Hedge Funds Weigh In On Nordson

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Nordson during the 4th quarter valued at $142,670,000. Massachusetts Financial Services Co. MA increased its position in Nordson by 156.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,019,658 shares of the industrial products company’s stock worth $205,685,000 after buying an additional 621,734 shares during the period. Raymond James Financial Inc. bought a new position in shares of Nordson in the fourth quarter worth $74,005,000. First Trust Advisors LP increased its position in shares of Nordson by 676.5% in the fourth quarter. First Trust Advisors LP now owns 246,317 shares of the industrial products company’s stock worth $51,539,000 after purchasing an additional 214,594 shares during the period. Finally, Nuveen LLC bought a new position in shares of Nordson in the first quarter worth $29,125,000. 72.11% of the stock is owned by institutional investors.

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.