Nordson (NASDAQ:NDSN) Stock Rating Upgraded by Oppenheimer

Nordson (NASDAQ:NDSN) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Friday,Finviz reports. The brokerage presently has a $260.00 price objective on the industrial products company’s stock. Oppenheimer’s target price would suggest a potential upside of 24.42% from the company’s previous close.

NDSN has been the topic of a number of other reports. KeyCorp cut their target price on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price objective on the stock. in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nordson has an average rating of “Moderate Buy” and an average price target of $251.83.

Nordson Trading Up 6.8%

NASDAQ NDSN opened at $208.97 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.51 and a current ratio of 2.53. Nordson has a one year low of $165.03 and a one year high of $266.86. The company has a 50-day simple moving average of $191.51 and a 200-day simple moving average of $212.11. The firm has a market capitalization of $11.89 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last posted its earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.36 by $0.06. The company had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.28% and a net margin of 16.93%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 earnings per share. On average, equities analysts forecast that Nordson will post 10.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New York Life Investment Management LLC lifted its position in Nordson by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 7,314 shares of the industrial products company’s stock worth $1,530,000 after purchasing an additional 49 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Nordson by 36.7% in the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company’s stock valued at $41,000 after buying an additional 54 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its stake in Nordson by 1.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,308 shares of the industrial products company’s stock valued at $692,000 after buying an additional 56 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Nordson by 2.2% during the first quarter. Wedbush Securities Inc. now owns 2,741 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 58 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Nordson by 4.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,493 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

About Nordson

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.