Wells Fargo & Co Raises Nordson (NASDAQ:NDSN) Price Target to $135.00

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Nordson (NASDAQ:NDSN) had its price target boosted by Wells Fargo & Co from $125.00 to $135.00 in a research note released on Friday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on NDSN. DA Davidson reduced their price target on shares of Nordson from $130.00 to $125.00 and set a neutral rating on the stock in a research report on Wednesday, August 21st. Zacks Investment Research downgraded shares of Nordson from a hold rating to a sell rating and set a $148.00 price target on the stock. in a research report on Monday, July 1st. BidaskClub upgraded shares of Nordson from a sell rating to a hold rating in a research report on Tuesday, September 10th. Longbow Research set a $160.00 price target on shares of Nordson and gave the stock a buy rating in a research report on Friday, August 23rd. Finally, ValuEngine downgraded shares of Nordson from a buy rating to a hold rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $143.83.

Nordson stock opened at $148.62 on Friday. The firm’s 50-day moving average is $141.67 and its 200-day moving average is $138.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.57 and a current ratio of 2.21. Nordson has a 1 year low of $110.16 and a 1 year high of $149.23. The company has a market cap of $8.35 billion, a P/E ratio of 25.02, a PEG ratio of 1.48 and a beta of 1.20.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.80 by ($0.18). Nordson had a return on equity of 21.96% and a net margin of 14.74%. The business had revenue of $559.75 million during the quarter, compared to the consensus estimate of $587.74 million. During the same quarter in the previous year, the business posted $1.60 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Nordson will post 5.93 earnings per share for the current year.

In related news, CFO Gregory A. Thaxton sold 11,400 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $145.21, for a total value of $1,655,394.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory P. Merk sold 14,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $144.17, for a total transaction of $2,018,380.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,076 shares of company stock worth $6,507,399. Corporate insiders own 1.97% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its stake in Nordson by 1.5% during the 1st quarter. Advisory Services Network LLC now owns 6,125 shares of the industrial products company’s stock valued at $812,000 after buying an additional 92 shares during the period. FMR LLC increased 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 buying an additional 47,425 shares during the period. WINTON GROUP Ltd increased its stake in Nordson by 18.5% during the 2nd quarter. WINTON GROUP Ltd now owns 3,865 shares of the industrial products company’s stock valued at $546,000 after buying an additional 604 shares during the period. Capital Insight Partners LLC increased its stake in Nordson by 1.2% during the 2nd quarter. Capital Insight Partners LLC now owns 9,833 shares of the industrial products company’s stock valued at $1,390,000 after buying an additional 115 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Nordson during the 2nd quarter valued at about $594,000. 68.81% of the stock is currently owned by institutional investors and hedge funds.

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. 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.

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Analyst Recommendations for Nordson (NASDAQ:NDSN)

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