Nordson (NASDAQ:NDSN) Upgraded to “Buy” by StockNews.com

Nordson (NASDAQ:NDSNGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

NDSN has been the subject of several other reports. Loop Capital initiated coverage on Nordson in a research note on Tuesday, March 29th. They set a “hold” rating and a $250.00 target price for the company. Morgan Stanley upped their price target on Nordson from $230.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, December 17th. Finally, Wells Fargo & Company upped their price target on Nordson from $280.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, January 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordson presently has a consensus rating of “Hold” and an average price target of $275.40.

Nordson stock opened at $214.74 on Friday. The stock has a market cap of $12.44 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $225.08 and a 200-day moving average of $241.40. Nordson has a 52 week low of $197.20 and a 52 week high of $272.28.

Nordson (NASDAQ:NDSNGet Rating) last released its earnings results on Tuesday, February 22nd. The industrial products company reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.14. The company had revenue of $609.20 million during the quarter, compared to analysts’ expectations of $607.21 million. Nordson had a return on equity of 23.76% and a net margin of 20.34%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. As a group, equities analysts predict that Nordson will post 9.05 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of NDSN. FMR LLC increased its position in Nordson by 7,456.8% in the first quarter. FMR LLC now owns 48,061 shares of the industrial products company’s stock worth $6,369,000 after buying an additional 47,425 shares during the period. Morgan Stanley increased its position in Nordson by 23.0% in the second quarter. Morgan Stanley now owns 82,584 shares of the industrial products company’s stock worth $18,128,000 after buying an additional 15,444 shares during the period. Wolff Wiese Magana LLC increased its position in Nordson by 136.4% in the third quarter. Wolff Wiese Magana LLC now owns 104 shares of the industrial products company’s stock worth $25,000 after buying an additional 60 shares during the period. DekaBank Deutsche Girozentrale increased its position in Nordson by 1.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,364 shares of the industrial products company’s stock worth $1,072,000 after buying an additional 81 shares during the period. Finally, Westpac Banking Corp increased its position in Nordson by 4.2% in the third quarter. Westpac Banking Corp now owns 7,071 shares of the industrial products company’s stock worth $1,684,000 after buying an additional 284 shares during the period. 78.00% of the stock is currently 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).

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Analyst Recommendations for Nordson (NASDAQ:NDSN)

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