Nordson (NDSN) Sets New 52-Week High After Analyst Upgrade

Nordson Co. (NASDAQ:NDSN)’s share price hit a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $150.00 to $155.00. Oppenheimer currently has an outperform rating on the stock. Nordson traded as high as $149.23 and last traded at $148.93, with a volume of 3117 shares changing hands. The stock had previously closed at $145.76.

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. BidaskClub upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Finally, CIBC upgraded shares of Nordson from a “market perform” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.83.

In related news, CEO Michael F. Hilton sold 4,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $137.98, for a total transaction of $551,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelly Peet sold 11,600 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $133.16, for a total transaction of $1,544,656.00. Following the sale, the insider now owns 29,296 shares of the company’s stock, valued at approximately $3,901,055.36. The disclosure for this sale can be found here. Insiders have sold a total of 73,560 shares of company stock valued at $9,831,639 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.



Large investors have recently modified their holdings of the business. CX Institutional bought a new stake in Nordson during the 1st quarter worth about $30,000. Cordasco Financial Network bought a new stake in Nordson during the 1st quarter worth about $30,000. Doyle Wealth Management bought a new stake in Nordson during the 4th quarter worth about $30,000. Penserra Capital Management LLC bought a new stake in Nordson during the 4th quarter worth about $36,000. Finally, Bessemer Group Inc. bought a new stake in Nordson during the 4th quarter worth about $66,000. 70.20% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 2.67, a quick ratio of 1.84 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.38 billion, a P/E ratio of 24.81, a PEG ratio of 1.81 and a beta of 1.11.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.21). Nordson had a return on equity of 23.01% and a net margin of 14.59%. The company had revenue of $497.91 million for the quarter, compared to the consensus estimate of $497.99 million. During the same period in the prior year, the company earned $1.35 EPS. The firm’s revenue was down 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Nordson Co. will post 6.36 earnings per share for the current year.

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About Nordson (NASDAQ:NDSN)

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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