Analysts’ Weekly Ratings Changes for Nordson (NDSN)

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Several analysts have recently updated their ratings and price targets for Nordson (NASDAQ: NDSN):

  • 1/8/2019 – Nordson was upgraded by analysts at CIBC from a “market perform” rating to an “outperform” rating. They now have a $140.00 price target on the stock.
  • 1/8/2019 – Nordson was upgraded by analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating. They now have a $140.00 price target on the stock.
  • 1/2/2019 – Nordson was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/31/2018 – Nordson was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “We believe that Nordson has been grappling with the adverse impacts of rising costs and expenses for quite some time. In fiscal 2018, the company's cost of sales increased 9.8% year over year and its selling and administrative expenses grew 8.8%. We believe, if unchecked, higher costs and operating expenses will prove detrimental to the company's margins and profitability. Also, a highly leveraged balance sheet can inflate its financial obligations and subsequently, hurt profitability. Further, given the company's strong presence in international markets, its financial performance is subject to foreign currency translation risks. In fiscal 2019, unfavorable foreign currency movements will have an adverse impact of 2% on sales growth. In the past 30 days, earnings estimates on the stock have decreased for both fiscal 2019 and fiscal 2020.”
  • 12/26/2018 – Nordson was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 12/22/2018 – Nordson was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 12/18/2018 – Nordson had its “hold” rating reaffirmed by analysts at Gabelli.
  • 12/17/2018 – Nordson was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “In fourth-quarter fiscal 2018, Nordson's earnings recorded year-over-year growth of 4.3%. However, the figure lagged the Zacks Consensus Estimate by 2.1%. For fiscal 2019, the company believes that strengthening end-markets and growth initiatives will support organic sales growth. Moreover, the company's recent buyout of Clada Medical Devices is likely to strengthen its businesses under the Advanced Technology Systems segment. However, in the past three months, Nordson's shares have underperformed the industry. Risks are surfacing from rising cost of sales and higher debt levels. We believe, if unchecked, higher costs and operating expenses will prove detrimental to the company's margins and profitability. Also, a highly leveraged balance sheet can inflate its financial obligations and subsequently, hurt profitability.”
  • 12/14/2018 – Nordson was given a new $130.00 price target on by analysts at Wells Fargo & Co. They now have a “hold” rating on the stock.
  • 12/1/2018 – Nordson was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 11/29/2018 – Nordson was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $125.00 price target on the stock.
  • 11/28/2018 – Nordson was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “In the past three months, Nordson's shares have underperformed the industry. Demand for dispense products for electronic end markets of the Advanced Technology Systems segment and cold materials products, serving automotive markets, are predicted to be lower going forward. Moreover, risks are surfacing from rising cost of sales and higher debt levels. We believe, if unchecked, higher costs and operating expenses will prove detrimental to the company's margins, and profitability. Also, a highly leveraged balance sheet can inflate the company's financial obligations and subsequently, hurt its profitability. Over the past 30 days, Zacks Consensus Estimate for the company’s earnings has remained unchanged for fiscal 2019.”

NDSN stock opened at $122.74 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.52 and a quick ratio of 1.77. Nordson Co. has a fifty-two week low of $110.16 and a fifty-two week high of $151.49. The company has a market capitalization of $7.12 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.45 and a beta of 1.15.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings data on Wednesday, December 12th. The industrial products company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.03). The company had revenue of $569.00 million during the quarter, compared to the consensus estimate of $560.98 million. Nordson had a return on equity of 25.29% and a net margin of 16.74%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 EPS. As a group, sell-side analysts forecast that Nordson Co. will post 6.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 8th. Shareholders of record on Friday, December 21st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Thursday, December 20th. Nordson’s payout ratio is 23.57%.

In other Nordson news, CEO Michael F. Hilton sold 4,330 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $116.48, for a total transaction of $504,358.40. Following the completion of the sale, the chief executive officer now owns 217,821 shares in the company, valued at approximately $25,371,790.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory A. Thaxton sold 11,250 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $117.22, for a total transaction of $1,318,725.00. Following the sale, the insider now owns 64,017 shares of the company’s stock, valued at approximately $7,504,072.74. The disclosure for this sale can be found here. Insiders own 2.01% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in shares of Nordson by 18.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 32,071 shares of the industrial products company’s stock valued at $4,455,000 after acquiring an additional 4,886 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Nordson by 71.8% in the 3rd quarter. First Trust Advisors LP now owns 95,951 shares of the industrial products company’s stock valued at $13,328,000 after buying an additional 40,105 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Nordson by 2.6% in the 3rd quarter. Copeland Capital Management LLC now owns 113,372 shares of the industrial products company’s stock valued at $15,748,000 after buying an additional 2,839 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in shares of Nordson by 5.2% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 195,590 shares of the industrial products company’s stock valued at $27,167,000 after buying an additional 9,589 shares during the period. Finally, Aperio Group LLC grew its holdings in shares of Nordson by 3.5% in the 3rd quarter. Aperio Group LLC now owns 19,519 shares of the industrial products company’s stock valued at $2,711,000 after buying an additional 652 shares during the period. Institutional investors own 68.17% of the company’s stock.

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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