Nordson (NASDAQ:NDSN) Stock Rating Upgraded by Loop Capital

Nordson (NASDAQ:NDSN) was upgraded by Loop Capital from a “hold” rating to a “buy” rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $280.00 target price on the industrial products company’s stock, up from their previous target price of $255.00. Loop Capital’s target price suggests a potential upside of 27.57% from the stock’s previous close.

NDSN has been the topic of several other research reports. Seaport Res Ptn raised Nordson from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Baird R W lowered shares of Nordson from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $237.00 price objective (down from $294.00) on shares of Nordson in a report on Friday, December 13th. Finally, DA Davidson decreased their target price on shares of Nordson from $295.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.25.

Nordson Trading Up 0.0 %

Shares of NDSN stock opened at $219.49 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.51 and a debt-to-equity ratio of 0.72. Nordson has a 1 year low of $196.83 and a 1 year high of $279.38. The firm’s fifty day simple moving average is $229.01 and its 200 day simple moving average is $241.97. The firm has a market capitalization of $12.53 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 19.87%. The company had revenue of $744.00 million for the quarter, compared to the consensus estimate of $736.83 million. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Nordson will post 10.2 EPS for the current year.

Insider Activity at Nordson

In other news, EVP Stephen Lovass sold 317 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $260.75, for a total transaction of $82,657.75. Following the sale, the executive vice president now owns 6,666 shares in the company, valued at approximately $1,738,159.50. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer L. Mcdonough sold 225 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $262.27, for a total transaction of $59,010.75. Following the transaction, the executive vice president now owns 3,287 shares in the company, valued at approximately $862,081.49. This trade represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,928 shares of company stock valued at $433,080 in the last ninety days. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Nordson

A number of institutional investors have recently modified their holdings of NDSN. Procyon Advisors LLC increased its holdings in shares of Nordson by 2.9% in the third quarter. Procyon Advisors LLC now owns 1,397 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 39 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in Nordson by 1.0% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 4,005 shares of the industrial products company’s stock worth $1,052,000 after purchasing an additional 39 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Nordson by 1.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,863 shares of the industrial products company’s stock worth $752,000 after buying an additional 42 shares during the period. Covestor Ltd lifted its stake in Nordson by 18.8% in the third quarter. Covestor Ltd now owns 272 shares of the industrial products company’s stock valued at $72,000 after buying an additional 43 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Nordson by 3.5% in the third quarter. QRG Capital Management Inc. now owns 1,447 shares of the industrial products company’s stock valued at $380,000 after buying an additional 49 shares during the period. 72.11% of the stock is owned by institutional investors.

Nordson Company Profile

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 three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.