Nordson (NASDAQ:NDSN) had its target price raised by equities research analysts at SunTrust Banks to $166.00 in a note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the industrial products company’s stock. SunTrust Banks’ target price indicates a potential upside of 15.39% from the company’s current price.
Other research analysts also recently issued research reports about the company. Gabelli raised Nordson 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. B. Riley reissued a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. Zacks Investment Research raised Nordson from a “sell” rating to a “hold” rating in a research note on Thursday. Oppenheimer reissued a “hold” rating on shares of Nordson in a research note on Thursday. Finally, Longbow Research raised Nordson from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $145.40.
Shares of Nordson (NDSN) traded up $16.95 during midday trading on Friday, reaching $143.86. The company’s stock had a trading volume of 1,610,300 shares, compared to its average volume of 300,598. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.47 and a current ratio of 2.10. The firm has a market capitalization of $7,321.73, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.40. Nordson has a 12-month low of $107.16 and a 12-month high of $150.48.
In other news, VP James E. Devries sold 5,000 shares of the company’s 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 completion of the transaction, the vice president now owns 41,937 shares of the company’s stock, valued at $4,948,985.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.15% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NDSN. IFP Advisors Inc increased its position in Nordson by 1.5% during the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 21 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Nordson during the 2nd quarter valued at approximately $1,759,000. Arizona State Retirement System increased its position in Nordson by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 22,600 shares of the industrial products company’s stock valued at $2,742,000 after purchasing an additional 300 shares during the period. Teacher Retirement System of Texas increased its position in Nordson by 1.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,156 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 72 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Nordson by 13.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,510 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 544 shares during the period. 65.76% of the stock is owned by institutional investors and hedge funds.
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.
