Nordson (NDSN) Stock Rating Upgraded by Zacks Investment Research
Nordson (NASDAQ:NDSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $148.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.41% from the company’s previous close.
According to Zacks, “In the last six months, Nordson's shares have outperformed the industry. We believe that the company is poised to benefit from a diversified product portfolio and strategic acquisitions in the long run. For second-quarter fiscal 2018, the company anticipates sales to increase 9-13% year over year. Acquisition benefits will add 7% to sales growth while foreign gains will add 5%. Also, the company's commitment toward rewarding its shareholders handsomely through dividend payments and share buybacks will work in its favor.”
Several other equities analysts also recently weighed in on the company. BidaskClub downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. ValuEngine downgraded Nordson from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Robert W. Baird reiterated a “hold” rating and set a $157.00 target price on shares of Nordson in a research report on Wednesday, April 4th. Wells Fargo reiterated a “market perform” rating and set a $140.00 target price (down from $155.00) on shares of Nordson in a research report on Monday, February 26th. They noted that the move was a valuation call. Finally, B. Riley set a $175.00 target price on Nordson and gave the stock a “buy” rating in a research report on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Nordson currently has a consensus rating of “Buy” and a consensus price target of $155.10.
Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.01. Nordson had a return on equity of 30.41% and a net margin of 15.85%. The business had revenue of $550.42 million for the quarter, compared to the consensus estimate of $538.21 million. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. equities analysts anticipate that Nordson will post 6.33 EPS for the current fiscal year.
In other Nordson news, CEO Michael F. Hilton sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $137.11, for a total transaction of $6,855,500.00. Following the completion of the sale, the chief executive officer now directly owns 225,774 shares in the company, valued at $30,955,873.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael F. Hilton sold 55,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $138.18, for a total value of $7,599,900.00. Following the sale, the chief executive officer now owns 241,274 shares of the company’s stock, valued at $33,339,241.32. The disclosure for this sale can be found here. Corporate insiders own 2.01% of the company’s stock.
A number of large investors have recently made changes to their positions in NDSN. Advisory Services Network LLC increased its stake in Nordson by 972.7% during the fourth quarter. Advisory Services Network LLC now owns 1,062 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 963 shares during the last quarter. CI Global Investments Inc. increased its stake in Nordson by 1,721.4% during the first quarter. CI Global Investments Inc. now owns 1,275 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 1,205 shares during the last quarter. Sapphire Star Partners LP acquired a new stake in Nordson during the fourth quarter worth about $212,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Nordson in the fourth quarter valued at about $213,000. Finally, MML Investors Services LLC acquired a new stake in shares of Nordson in the fourth quarter valued at about $214,000. Institutional investors own 67.73% of the company’s stock.
Nordson Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nordson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordson and related companies with MarketBeat.com's FREE daily email newsletter.