Nordson (NASDAQ:NDSN) Upgraded to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Nordson (NASDAQ:NDSN – Free Report) from a hold rating to a buy rating in a research note published on Sunday morning.

Several other research analysts have also commented on the company. Robert W. Baird raised their price objective on Nordson from $245.00 to $252.00 and gave the company a “neutral” rating in a research report on Friday, August 22nd. Oppenheimer raised their target price on Nordson from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Weiss Ratings restated a “hold (c)” rating on shares of Nordson in a report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $240.00 price objective on shares of Nordson in a research report on Thursday, August 21st. Finally, DA Davidson set a $285.00 target price on shares of Nordson in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.75.

View Our Latest Stock Analysis on Nordson

Nordson Trading Down 0.1%

NASDAQ NDSN opened at $237.67 on Friday. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.77 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. Nordson has a one year low of $165.03 and a one year high of $261.39. The company’s 50 day moving average price is $231.97 and its 200 day moving average price is $221.82.

Nordson (NASDAQ:NDSN – Get Free Report) last released its quarterly earnings data on Thursday, September 8th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The company had revenue of $646.86 million during the quarter. On average, sell-side analysts predict that Nordson will post 10.2 EPS for the current year.

Insider Buying and Selling

In related news, EVP Joseph P. Kelley sold 2,300 shares of Nordson stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $232.39, for a total value of $534,497.00. Following the completion of the sale, the executive vice president owned 8,605 shares in the company, valued at approximately $1,999,715.95. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James E. Devries sold 9,100 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $233.60, for a total transaction of $2,125,760.00. Following the completion of the sale, the executive vice president directly owned 51,223 shares in the company, valued at $11,965,692.80. This represents a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,600 shares of company stock worth $3,188,257. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nordson

Several hedge funds and other institutional investors have recently modified their holdings of NDSN. Mitchell & Pahl Private Wealth LLC increased its holdings in Nordson by 0.9% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 4,770 shares of the industrial products company’s stock worth $1,083,000 after purchasing an additional 43 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Nordson by 12.0% in the third quarter. Bessemer Group Inc. now owns 430 shares of the industrial products company’s stock valued at $98,000 after purchasing an additional 46 shares in the last quarter. Argent Trust Co boosted its position in shares of Nordson by 3.6% during the third quarter. Argent Trust Co now owns 1,325 shares of the industrial products company’s stock worth $301,000 after buying an additional 46 shares during the period. Elevation Point Wealth Partners LLC grew its stake in shares of Nordson by 3.5% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 1,436 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 48 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Nordson by 0.4% in the second quarter. Ensign Peak Advisors Inc now owns 13,931 shares of the industrial products company’s stock valued at $2,986,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

Nordson Company Profile

(Get Free Report)

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.

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