ValuEngine Upgrades Nordson (NDSN) to Buy

ValuEngine upgraded shares of Nordson (NASDAQ:NDSN) from a hold rating to a buy rating in a research report sent to investors on Friday, April 13th.

NDSN has been the topic of several other reports. Robert W. Baird restated a hold rating and set a $157.00 price target on shares of Nordson in a research note on Wednesday, April 4th. Wells Fargo reiterated a market perform rating and issued a $140.00 price objective (down from $155.00) on shares of Nordson in a research note on Monday, February 26th. They noted that the move was a valuation call. DA Davidson started coverage on Nordson in a report on Wednesday, February 21st. They issued a buy rating and a $160.00 target price on the stock. SunTrust Banks upped their price objective on Nordson to $166.00 and gave the stock a buy rating in a report on Friday, December 15th. Finally, Oppenheimer reaffirmed a hold rating on shares of Nordson in a report on Thursday, December 14th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $154.30.

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Shares of NDSN stock opened at $139.85 on Friday. The firm has a market cap of $8,107.52, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.28. Nordson has a 1-year low of $107.16 and a 1-year high of $151.84. The company has a current ratio of 1.52, a quick ratio of 1.07 and a debt-to-equity ratio of 0.97.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.01. Nordson had a return on equity of 30.41% and a net margin of 15.85%. The firm had revenue of $550.42 million during the quarter, compared to analysts’ expectations of $538.21 million. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. equities research analysts anticipate that Nordson will post 6.33 EPS for the current year.

In related news, CEO Michael F. Hilton sold 55,000 shares of Nordson stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $138.18, for a total value of $7,599,900.00. Following the transaction, the chief executive officer now directly owns 241,274 shares of the company’s stock, valued at $33,339,241.32. 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 50,000 shares of Nordson stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $137.11, for a total transaction of $6,855,500.00. Following the completion of the transaction, the chief executive officer now directly owns 225,774 shares in the company, valued at $30,955,873.14. The disclosure for this sale can be found here. Company insiders own 2.01% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in shares of Nordson by 107.7% during the fourth quarter. Wells Fargo & Company MN now owns 970,315 shares of the industrial products company’s stock worth $142,053,000 after buying an additional 503,093 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Nordson by 10.4% during the fourth quarter. Lazard Asset Management LLC now owns 113,599 shares of the industrial products company’s stock worth $16,630,000 after buying an additional 10,687 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Nordson during the fourth quarter worth $328,000. Eaton Vance Management grew its stake in shares of Nordson by 4.5% during the fourth quarter. Eaton Vance Management now owns 11,573 shares of the industrial products company’s stock worth $1,694,000 after buying an additional 500 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Nordson by 168.1% during the fourth quarter. Deutsche Bank AG now owns 82,151 shares of the industrial products company’s stock worth $12,024,000 after purchasing an additional 51,505 shares during the period. 66.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Nordson

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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