Robert W. Baird Lowers Nordson (NASDAQ:NDSN) Price Target to $272.00

Nordson (NASDAQ:NDSN) had its price target lowered by equities researchers at Robert W. Baird from $303.00 to $272.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 11.87% from the company’s current price.

Several other equities research analysts also recently commented on NDSN. StockNews.com upgraded Nordson from a “hold” rating to a “buy” rating in a report on Monday. KeyCorp restated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Wells Fargo & Company lifted their price objective on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, DA Davidson upped their target price on shares of Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Nordson presently has an average rating of “Moderate Buy” and a consensus target price of $281.17.

Nordson Stock Performance

NASDAQ:NDSN opened at $243.14 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.19 and a debt-to-equity ratio of 0.56. Nordson has a twelve month low of $208.90 and a twelve month high of $279.38. The company has a fifty day moving average of $267.01 and a 200-day moving average of $256.63. The firm has a market capitalization of $13.91 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.02 and a beta of 1.00.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, May 20th. The industrial products company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.04. The firm had revenue of $650.64 million during the quarter, compared to the consensus estimate of $661.06 million. Nordson had a net margin of 18.23% and a return on equity of 20.50%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, sell-side analysts anticipate that Nordson will post 10.2 EPS for the current year.

Institutional Trading of Nordson

A number of institutional investors and hedge funds have recently modified their holdings of NDSN. Tobam grew its stake in Nordson by 2,275.0% in the 4th quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 91 shares during the period. FNY Investment Advisers LLC bought a new position in Nordson during the fourth quarter valued at about $26,000. Sound Income Strategies LLC purchased a new stake in Nordson during the fourth quarter worth about $27,000. Fortitude Family Office LLC bought a new stake in Nordson in the fourth quarter worth about $28,000. Finally, Smithfield Trust Co boosted its stake in Nordson by 105.6% in the third quarter. Smithfield Trust Co now owns 146 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. 72.11% of the stock is owned by hedge funds and other institutional investors.

About Nordson

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.