ValuEngine Downgrades Nordson (NDSN) to Hold

Nordson (NASDAQ:NDSN) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms also recently issued reports on NDSN. BidaskClub downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. DA Davidson set a $160.00 price target on shares of Nordson and gave the company a “buy” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research downgraded shares of Nordson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $156.57.

Shares of NASDAQ:NDSN opened at $125.55 on Thursday. The company has a market capitalization of $8.08 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.78 and a beta of 1.22. The company has a quick ratio of 2.36, a current ratio of 3.16 and a debt-to-equity ratio of 1.07. Nordson has a one year low of $121.56 and a one year high of $151.84.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Monday, August 20th. The industrial products company reported $1.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60. The business had revenue of $581.20 million during the quarter, compared to the consensus estimate of $590.75 million. Nordson had a net margin of 16.40% and a return on equity of 26.37%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, research analysts forecast that Nordson will post 5.98 earnings per share for the current fiscal year.

Nordson declared that its board has initiated a stock buyback plan on Tuesday, September 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

In other news, Director Mary G. Puma sold 2,983 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total transaction of $433,847.52. Following the completion of the transaction, the director now owns 18,799 shares of the company’s stock, valued at $2,734,126.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.01% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Nordson during the second quarter worth $132,000. Sawtooth Solutions LLC acquired a new stake in shares of Nordson during the second quarter worth $205,000. Hartford Investment Management Co. acquired a new stake in shares of Nordson during the second quarter worth $206,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Nordson during the second quarter worth $211,000. Finally, Natixis acquired a new stake in shares of Nordson during the second quarter worth $214,000. Institutional investors own 68.81% of the company’s stock.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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