Nordson Corporation (NASDAQ:NDSN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Over the long term, Nordson is poised to benefit from diversified product portfolio and strategic acquisitions. In March, the company acquired assets of Vention Medical's Advanced Technologies business. Also, it remains committed toward rewarding its shareholders through dividend payments and share buybacks. However, the company is exposed to risks arising from international diversity and higher costs and debt levels. 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. Over the last three months, Nordson's shares have underperformed the industry. For the fiscal fourth quarter, the company anticipates net sales to grow 4-8% year over year, weaker compared with 20% sales growth recorded in the previous quarter.”
NDSN has been the topic of several other research reports. FBR & Co set a $160.00 price objective on Nordson Corporation and gave the company a “buy” rating in a report on Monday. BidaskClub cut Nordson Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Wells Fargo & Company reiterated a “market perform” rating and set a $130.00 price objective (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Wellington Shields upgraded Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Friday, June 2nd. Finally, Gabelli upgraded Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday, August 23rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nordson Corporation has an average rating of “Buy” and an average target price of $138.00.
Shares of Nordson Corporation (NASDAQ:NDSN) traded up 0.05% during trading on Wednesday, hitting $112.84. The stock had a trading volume of 19,650 shares. The firm has a 50 day moving average of $119.95 and a 200 day moving average of $121.87. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35. Nordson Corporation has a 1-year low of $94.56 and a 1-year high of $131.49.
Nordson Corporation (NASDAQ:NDSN) last issued its earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $574.20 million. During the same quarter last year, the business earned $1.67 earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year. Analysts expect that Nordson Corporation will post $5.31 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NDSN. BlackRock Inc. lifted its stake in Nordson Corporation by 6,982.3% in the 1st quarter. BlackRock Inc. now owns 4,380,454 shares of the industrial products company’s stock valued at $538,093,000 after acquiring an additional 4,318,603 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Nordson Corporation in the 2nd quarter valued at approximately $158,781,000. Atlanta Capital Management Co. L L C lifted its stake in Nordson Corporation by 91.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock valued at $215,658,000 after acquiring an additional 848,006 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Nordson Corporation in the 2nd quarter valued at approximately $75,388,000. Finally, Koch Industries Inc. bought a new stake in Nordson Corporation in the 2nd quarter valued at approximately $425,000. Hedge funds and other institutional investors own 66.03% of the company’s stock.
Nordson Corporation 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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