Nordson (NASDAQ:NDSN – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.
NDSN has been the topic of a number of other research reports. Loop Capital initiated coverage on Nordson in a research note on Tuesday, March 29th. They set a “hold” rating and a $250.00 price target on the stock. DA Davidson lowered their target price on Nordson from $300.00 to $265.00 in a research note on Tuesday, May 24th. Robert W. Baird lowered their target price on Nordson from $266.00 to $243.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 25th. Finally, Morgan Stanley lowered their target price on Nordson from $270.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $263.60.
Shares of NASDAQ NDSN traded down $5.32 during midday trading on Monday, hitting $202.32. 193,708 shares of the company’s stock were exchanged, compared to its average volume of 346,009. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.47 and a quick ratio of 0.94. Nordson has a twelve month low of $200.21 and a twelve month high of $272.28. The company has a market cap of $11.64 billion, a PE ratio of 24.58, a P/E/G ratio of 1.71 and a beta of 0.94. The firm’s fifty day simple moving average is $216.01 and its 200-day simple moving average is $229.98.
Nordson (NASDAQ:NDSN – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The industrial products company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. The firm had revenue of $635.40 million for the quarter, compared to the consensus estimate of $644.90 million. Nordson had a return on equity of 23.93% and a net margin of 19.38%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. Equities analysts anticipate that Nordson will post 9.32 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Confluence Wealth Services Inc. acquired a new position in Nordson during the fourth quarter worth $29,000. Commonwealth Equity Services LLC raised its holdings in Nordson by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,454 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 526 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Nordson by 2.0% in the fourth quarter. M&T Bank Corp now owns 5,794 shares of the industrial products company’s stock worth $1,479,000 after acquiring an additional 111 shares during the last quarter. Laurel Wealth Advisors Inc. acquired a new position in shares of Nordson in the fourth quarter worth $1,118,000. Finally, Yousif Capital Management LLC acquired a new position in shares of Nordson in the fourth quarter worth $7,283,000. 81.23% of the stock is owned by hedge funds and other institutional investors.
Nordson Company Profile (Get Rating)
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 two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS).