Nordson (NASDAQ:NDSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, December 7th.
According to Zacks, “In the last three months, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from diversified product portfolio and strategic acquisitions in the long run. 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. In the last 60 days, earnings estimates improved for fiscal 2018. 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. 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 reports. KeyCorp restated a “buy” rating and set a $145.00 price objective on shares of Nordson in a research note on Sunday, November 19th. B. Riley reiterated a “buy” rating on shares of Nordson in a research note on Wednesday, November 1st. SunTrust Banks reiterated a “buy” rating and issued a $135.00 target price on shares of Nordson in a research note on Friday, October 27th. Robert W. Baird reissued a “hold” rating and set a $138.00 price target on shares of Nordson in a report on Wednesday, October 4th. Finally, Longbow Research raised Nordson from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, September 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Nordson has an average rating of “Buy” and a consensus price target of $145.40.
Nordson (NDSN) traded up $1.02 during trading on Thursday, hitting $147.42. 266,265 shares of the company traded hands, compared to its average volume of 235,400. The stock has a market cap of $8,560.00, a price-to-earnings ratio of 29.31, a PEG ratio of 1.59 and a beta of 1.39. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 1.10. Nordson has a 1-year low of $107.16 and a 1-year high of $150.48.
Nordson (NASDAQ:NDSN) last announced its quarterly earnings data on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The business had revenue of $574.00 million for the quarter, compared to analyst estimates of $546.76 million. Nordson had a net margin of 14.31% and a return on equity of 30.54%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 EPS. research analysts forecast that Nordson will post 6.23 earnings per share for the current fiscal year.
In related news, VP Robert E. Veillette sold 1,594 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $142.19, for a total value of $226,650.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.15% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its stake in shares of Nordson by 175.7% during the third quarter. GSA Capital Partners LLP now owns 6,467 shares of the industrial products company’s stock valued at $766,000 after acquiring an additional 4,121 shares during the period. Independent Advisor Alliance increased its holdings in Nordson by 13.6% in the third quarter. Independent Advisor Alliance now owns 5,475 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 657 shares during the last quarter. California Public Employees Retirement System increased its holdings in Nordson by 3.4% in the third quarter. California Public Employees Retirement System now owns 130,116 shares of the industrial products company’s stock valued at $15,419,000 after purchasing an additional 4,316 shares during the last quarter. Jane Street Group LLC increased its holdings in Nordson by 361.8% in the third quarter. Jane Street Group LLC now owns 12,916 shares of the industrial products company’s stock valued at $1,531,000 after purchasing an additional 10,119 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in Nordson by 81.5% in the third quarter. Vident Investment Advisory LLC now owns 113,247 shares of the industrial products company’s stock valued at $13,420,000 after purchasing an additional 50,847 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.
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Nordson 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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