Nordson (NASDAQ:NDSN) Price Target Cut to $295.00

Nordson (NASDAQ:NDSN) had its price target lowered by analysts at DA Davidson from $315.00 to $295.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s target price points to a potential upside of 24.00% from the company’s previous close. DA Davidson also issued estimates for Nordson’s Q3 2024 earnings at $2.35 EPS and FY2024 earnings at $9.55 EPS.

Several other analysts also recently commented on the company. KeyCorp restated a “sector weight” rating on shares of Nordson in a research note on Monday, February 26th. Robert W. Baird lowered their target price on Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com upgraded Nordson from a “hold” rating to a “buy” rating in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Nordson presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.83.

Nordson Stock Performance

Shares of NDSN stock opened at $237.90 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.21 and a quick ratio of 1.37. Nordson has a one year low of $208.91 and a one year high of $279.38. The business’s 50 day simple moving average is $266.04 and its 200 day simple moving average is $256.41. The stock has a market capitalization of $13.61 billion, a PE ratio of 28.36, a PEG ratio of 1.96 and a beta of 1.00.

Nordson (NASDAQ:NDSN) last announced its earnings results on Monday, May 20th. The industrial products company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.30 by $0.04. The company had revenue of $650.64 million for the quarter, compared to analyst estimates of $661.06 million. Nordson had a return on equity of 20.20% and a net margin of 18.23%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 EPS. As a group, research analysts forecast that Nordson will post 9.55 earnings per share for the current year.

Institutional Investors Weigh In On Nordson

Several large investors have recently made changes to their positions in NDSN. Advisory Services Network LLC grew its position in Nordson by 0.4% during the fourth quarter. Advisory Services Network LLC now owns 10,674 shares of the industrial products company’s stock valued at $2,820,000 after buying an additional 40 shares during the period. Retirement Systems of Alabama boosted its stake in Nordson by 0.3% in the first quarter. Retirement Systems of Alabama now owns 11,976 shares of the industrial products company’s stock valued at $3,288,000 after acquiring an additional 40 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Nordson by 2.3% during the 4th quarter. Independent Advisor Alliance now owns 1,983 shares of the industrial products company’s stock valued at $524,000 after acquiring an additional 45 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Nordson by 0.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 6,183 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 47 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Nordson by 3.6% in the 3rd quarter. Ieq Capital LLC now owns 1,381 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 48 shares during the period. 72.11% of the stock is owned by hedge funds and other 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.