Nordson (NDSN) Downgraded to “Sell” at BidaskClub

Share on StockTwits

Nordson (NASDAQ:NDSN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Nordson from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded shares of Nordson from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Finally, DA Davidson set a $160.00 price target on shares of Nordson and gave the company a “buy” rating in a report on Tuesday, August 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Nordson currently has an average rating of “Hold” and a consensus target price of $156.57.

NDSN opened at $125.55 on Thursday. The company has a market capitalization of $8.08 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. Nordson has a 12 month low of $121.56 and a 12 month high of $151.84. The company has a quick ratio of 2.36, a current ratio of 3.16 and a debt-to-equity ratio of 1.07.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Monday, August 20th. The industrial products company reported $1.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.60. The company had revenue of $581.20 million during the quarter, compared to the consensus estimate of $590.75 million. Nordson had a net margin of 16.40% and a return on equity of 26.37%. Nordson’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.74 EPS. On average, equities analysts expect that Nordson will post 5.98 earnings per share for the current year.

Nordson declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 11th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other Nordson news, Director Mary G. Puma sold 2,983 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $145.44, for a total value of $433,847.52. Following the completion of the transaction, the director now directly owns 18,799 shares of the company’s stock, valued at approximately $2,734,126.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.01% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Nordson by 2.3% in the 2nd quarter. BlackRock Inc. now owns 4,518,527 shares of the industrial products company’s stock valued at $580,225,000 after purchasing an additional 102,044 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Nordson by 64.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,220,240 shares of the industrial products company’s stock worth $541,921,000 after acquiring an additional 1,646,436 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Nordson by 4.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,021,793 shares of the industrial products company’s stock worth $131,208,000 after acquiring an additional 43,471 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Nordson by 30.9% during the 2nd quarter. Schroder Investment Management Group now owns 615,526 shares of the industrial products company’s stock worth $56,047,000 after acquiring an additional 145,187 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Nordson by 1.7% during the 2nd quarter. Northern Trust Corp now owns 415,677 shares of the industrial products company’s stock worth $53,376,000 after acquiring an additional 6,955 shares during the last quarter. 68.81% 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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

Further Reading: 52-Week High/Low

Analyst Recommendations for Nordson (NASDAQ:NDSN)

Receive News & Ratings for Nordson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply