ValuEngine Upgrades Nordson (NASDAQ:NDSN) to “Buy”

Nordson (NASDAQ:NDSN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, April 18th, ValuEngine reports.

NDSN has been the topic of several other research reports. Zacks Investment Research lowered Nordson from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. BidaskClub raised Nordson from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, Oppenheimer raised Nordson from a “market perform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 8th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Nordson has an average rating of “Hold” and an average target price of $143.83.

Shares of NDSN stock traded down $0.31 during trading on Thursday, reaching $142.96. The company had a trading volume of 154,967 shares, compared to its average volume of 158,405. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.84 and a current ratio of 2.67. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.79 and a beta of 1.14. Nordson has a one year low of $110.16 and a one year high of $149.23.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, February 20th. The industrial products company reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.21). The business had revenue of $497.91 million during the quarter, compared to the consensus estimate of $497.99 million. Nordson had a return on equity of 23.01% and a net margin of 14.59%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. On average, analysts forecast that Nordson will post 6.34 EPS for the current fiscal year.

In related news, insider Gregory P. Merk sold 5,860 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $137.14, for a total value of $803,640.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John J. Keane sold 43,900 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $132.69, for a total value of $5,825,091.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,560 shares of company stock valued at $9,831,639. 1.97% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. CX Institutional acquired a new position in Nordson during the first quarter valued at approximately $30,000. Cordasco Financial Network acquired a new stake in shares of Nordson in the first quarter valued at approximately $30,000. Doyle Wealth Management acquired a new stake in shares of Nordson in the fourth quarter valued at approximately $30,000. Penserra Capital Management LLC acquired a new stake in shares of Nordson in the fourth quarter valued at approximately $36,000. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Nordson in the first quarter valued at approximately $43,000. Institutional investors own 70.34% of the company’s stock.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products.

Further Reading: Debt-To-Equity Ratio

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Analyst Recommendations for Nordson (NASDAQ:NDSN)

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