Nordson Corporation (NDSN) Rating Lowered to Sell at Zacks Investment Research
Nordson Corporation (NASDAQ:NDSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Nordson Corporation is one of the world’s leading producers of precision dispensing equipment that applies adhesives, sealants and coatings to a broad range of consumer and industrial products during manufacturing operations. The company also manufactures technology-based systems for curing and surface treatment processes. Headquartered in Westlake, Ohio, Nordson has more than three thousand eight hundrednemployees worldwide, and direct operations and sales support offices in thirty countries.ntainers. “
Other research analysts have also issued research reports about the company. Gabelli raised Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday. BidaskClub lowered Nordson Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, August 18th. Wellington Shields raised Nordson Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Friday, June 2nd. Wells Fargo & Company reaffirmed a “market perform” rating and set a $130.00 price objective (up previously from $122.00) on shares of Nordson Corporation in a report on Thursday, May 25th. Finally, FBR & Co reiterated an “outperform” rating on shares of Nordson Corporation in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Nordson Corporation has a consensus rating of “Hold” and an average target price of $134.33.
Shares of Nordson Corporation (NASDAQ:NDSN) opened at 108.84 on Thursday. Nordson Corporation has a 52-week low of $94.56 and a 52-week high of $131.49. The stock’s 50 day moving average is $123.65 and its 200 day moving average is $122.38. The company has a market cap of $6.28 billion, a PE ratio of 21.64 and a beta of 1.35.
Nordson Corporation (NASDAQ:NDSN) last announced its quarterly earnings data on Monday, August 21st. The industrial products company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The firm had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. During the same quarter in the prior year, the company posted $1.67 earnings per share. Nordson Corporation’s quarterly revenue was up 20.3% on a year-over-year basis. Equities analysts forecast that Nordson Corporation will post $5.32 EPS for the current year.
A number of hedge funds have recently bought and sold shares of NDSN. Teachers Advisors LLC increased its stake in Nordson Corporation by 16.7% in the fourth quarter. Teachers Advisors LLC now owns 67,462 shares of the industrial products company’s stock worth $7,559,000 after buying an additional 9,659 shares during the last quarter. Bank of Montreal Can increased its stake in Nordson Corporation by 6.4% in the first quarter. Bank of Montreal Can now owns 12,633 shares of the industrial products company’s stock worth $1,553,000 after buying an additional 765 shares during the last quarter. Capstone Asset Management Co. increased its stake in Nordson Corporation by 2.8% in the first quarter. Capstone Asset Management Co. now owns 6,546 shares of the industrial products company’s stock worth $804,000 after buying an additional 180 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Nordson Corporation by 52.5% in the first quarter. Retirement Systems of Alabama now owns 104,760 shares of the industrial products company’s stock valued at $12,869,000 after buying an additional 36,075 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Nordson Corporation by 1.2% in the first quarter. Nationwide Fund Advisors now owns 89,351 shares of the industrial products company’s stock valued at $10,976,000 after buying an additional 1,080 shares in the last quarter. Institutional investors own 66.43% 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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