KeyCorp restated their buy rating on shares of Nordson Corporation (NASDAQ:NDSN) in a research report sent to investors on Thursday morning. The brokerage currently has a $145.00 target price on the industrial products company’s stock.
A number of other research firms also recently weighed in on NDSN. BidaskClub upgraded Nordson Corporation from a hold rating to a buy rating in a research report on Tuesday, June 27th. FBR & Co restated an outperform rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. Gabelli upgraded Nordson Corporation from a hold rating to a buy rating and set a $140.00 target price for the company in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded Nordson Corporation from a hold rating to a sell rating in a research report on Thursday, August 24th. Finally, Robert W. Baird restated a hold rating and issued a $128.00 target price on shares of Nordson Corporation in a research report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Nordson Corporation currently has a consensus rating of Buy and an average target price of $141.14.
Nordson Corporation (NDSN) traded up 0.17% on Thursday, hitting $122.14. 324,913 shares of the stock were exchanged. Nordson Corporation has a 52-week low of $95.35 and a 52-week high of $131.49. The company has a 50-day moving average price of $115.11 and a 200-day moving average price of $120.93. The firm has a market cap of $7.05 billion, a PE ratio of 24.29 and a beta of 1.37.
Nordson Corporation (NASDAQ:NDSN) last issued its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.12. The firm had revenue of $589.40 million during the quarter, compared to the consensus estimate of $574.20 million. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. On average, equities research analysts anticipate that Nordson Corporation will post $5.32 EPS for the current fiscal year.
In other Nordson Corporation news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the completion of the sale, the vice president now owns 41,937 shares in the company, valued at $4,948,985.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.15% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NDSN. BlackRock Inc. lifted its position in Nordson Corporation by 6,982.3% in the first quarter. BlackRock Inc. now owns 4,380,454 shares of the industrial products company’s stock valued at $538,093,000 after purchasing an additional 4,318,603 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Nordson Corporation in the second quarter valued at approximately $158,781,000. Atlanta Capital Management Co. L L C lifted its position in Nordson Corporation by 91.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock valued at $215,658,000 after purchasing an additional 848,006 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in Nordson Corporation in the second quarter valued at approximately $75,388,000. Finally, Koch Industries Inc. bought a new stake in Nordson Corporation in the second quarter valued at approximately $425,000. Hedge funds and other institutional investors own 65.48% of the company’s stock.
About Nordson Corporation
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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