Nordson (NASDAQ:NDSN) Upgraded at StockNews.com

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

A number of other research firms have also issued reports on NDSN. Wells Fargo & Company increased their target price on Nordson from $280.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, January 10th. Loop Capital assumed coverage on Nordson in a research note on Tuesday, March 29th. They issued a “hold” rating and a $250.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nordson has an average rating of “Hold” and a consensus target price of $275.40.

Shares of NASDAQ:NDSN opened at $215.69 on Monday. The company has a quick ratio of 1.60, a current ratio of 2.45 and a debt-to-equity ratio of 0.36. Nordson has a 52-week low of $197.20 and a 52-week high of $272.28. The stock’s fifty day simple moving average is $223.20 and its 200-day simple moving average is $240.02. The company has a market capitalization of $12.50 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.88 and a beta of 0.96.

Nordson (NASDAQ:NDSNGet Rating) last released its earnings results on Tuesday, February 22nd. The industrial products company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.14. The firm had revenue of $609.20 million for the quarter, compared to the consensus estimate of $607.21 million. Nordson had a return on equity of 23.76% and a net margin of 20.34%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 earnings per share. On average, sell-side analysts anticipate that Nordson will post 9.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of NDSN. FMR LLC grew its stake in Nordson by 7,456.8% during the 1st quarter. FMR LLC now owns 48,061 shares of the industrial products company’s stock valued at $6,369,000 after purchasing an additional 47,425 shares in the last quarter. Morgan Stanley lifted its holdings in Nordson by 23.0% during the 2nd 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 last quarter. Van ECK Associates Corp lifted its holdings in shares of Nordson by 9.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,658 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Nordson by 8.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,230 shares of the industrial products company’s stock worth $2,913,000 after purchasing an additional 981 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Nordson by 18.3% in the 3rd quarter. Deutsche Bank AG now owns 58,062 shares of the industrial products company’s stock worth $13,827,000 after purchasing an additional 8,973 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.

About Nordson (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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