Nordson (NDSN) Receives Buy Rating from B. Riley
Nordson (NASDAQ:NDSN)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a report issued on Wednesday. They presently have a $160.00 price objective on the industrial products company’s stock. B. Riley’s price target would suggest a potential upside of 26.07% from the stock’s previous close.
Several other research firms have also recently issued reports on NDSN. Zacks Investment Research cut Nordson from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. SunTrust Banks reiterated a “buy” rating and issued a $135.00 price objective on shares of Nordson in a research report on Friday, October 27th. BidaskClub cut Nordson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird reiterated a “hold” rating and issued a $128.00 price objective on shares of Nordson in a research report on Thursday, August 24th. Finally, KeyCorp reiterated a “buy” rating and issued a $145.00 price objective on shares of Nordson in a research report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $142.30.
Shares of Nordson (NASDAQ NDSN) traded up $2.69 during midday trading on Wednesday, hitting $126.91. The company had a trading volume of 649,100 shares, compared to its average volume of 295,133. The company has a current ratio of 2.10, a quick ratio of 1.47 and a debt-to-equity ratio of 1.45. Nordson has a 52-week low of $107.16 and a 52-week high of $131.49. The firm has a market capitalization of $7,166.54, a P/E ratio of 23.09, a PEG ratio of 1.43 and a beta of 1.40.
In other news, VP James E. Devries sold 5,000 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the completion of the transaction, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.15% of the company’s stock.
Several hedge funds have recently made changes to their positions in NDSN. Janus Henderson Group PLC purchased a new position in shares of Nordson in the second quarter valued at $158,781,000. Atlanta Capital Management Co. L L C increased its position in shares of Nordson by 91.2% in the second 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 buying an additional 848,006 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Nordson in the second quarter valued at $75,388,000. Koch Industries Inc. purchased a new position in shares of Nordson in the second quarter valued at $425,000. Finally, Principal Financial Group Inc. increased its position in shares of Nordson by 93.9% in the second quarter. Principal Financial Group Inc. now owns 773,058 shares of the industrial products company’s stock valued at $93,786,000 after buying an additional 374,363 shares in the last quarter. Institutional investors and hedge funds own 65.76% of the company’s stock.
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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