Nordson (NDSN) Lifted to Hold at Zacks Investment Research
Nordson (NASDAQ:NDSN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “In the last three months, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from a diversified product portfolio and strategic acquisitions in the long run. In fourth-quarter fiscal 2017, its earnings and revenues surpassed their respective Zacks Consensus Estimate by 4.5% and 5.7%. For first-quarter fiscal 2018, it anticipates sales to increase 30-34% year over year, including organic volume growth of 15-19%. Product demand will be solid in the electronics and medical end markets of the Advanced Technology segment. Acquisition benefits will add 11% to sales growth while foreign gains will add 4%. However, exposure to risks arising from international diversity and higher costs and debt levels might be concerning. Also, difficulties or delays in research and development of products, failure of new products and technologies and intense competition might dent the company's profitability.”
A number of other research analysts also recently commented on NDSN. B. Riley reaffirmed a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. BidaskClub downgraded shares of Nordson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Longbow Research raised shares of 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. Robert W. Baird reaffirmed a “hold” rating and set a $128.00 price objective on shares of Nordson in a research note on Thursday, August 24th. Finally, Gabelli upgraded Nordson from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $140.33.
Nordson (NDSN) opened at $126.91 on Thursday. Nordson has a one year low of $107.16 and a one year high of $131.49. The company has a current ratio of 2.10, a quick ratio of 1.47 and a debt-to-equity ratio of 1.45. The company has a market cap of $7,166.54, a PE ratio of 23.09, a PEG ratio of 1.43 and a beta of 1.40.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, December 13th. The industrial products company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Nordson had a net margin of 14.57% and a return on equity of 32.99%. The company 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 company posted $1.39 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. sell-side analysts forecast that Nordson will post 5.32 earnings per share for the current year.
In other news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $118.01, for a total transaction of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares in the company, valued at approximately $4,948,985.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.15% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Nordson by 1.5% during the 2nd 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 during the period. D.A. Davidson & CO. boosted its holdings in Nordson by 2.3% in 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 during the period. Teacher Retirement System of Texas boosted its holdings in Nordson by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,156 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 72 shares during the period. State of Wisconsin Investment Board boosted its holdings in Nordson by 0.8% in the 2nd quarter. State of Wisconsin Investment Board now owns 11,495 shares of the industrial products company’s stock worth $1,395,000 after acquiring an additional 90 shares during the period. Finally, Utah Retirement Systems boosted its holdings in Nordson by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 10,512 shares of the industrial products company’s stock worth $1,275,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 65.76% of the company’s stock.
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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.
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