Nordson (NASDAQ:NDSN) Price Target Lowered to $285.00 at DA Davidson

Nordson (NASDAQ:NDSN) had its target price lowered by research analysts at DA Davidson from $295.00 to $285.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. DA Davidson’s price objective suggests a potential upside of 26.05% from the company’s previous close.

Separately, Robert W. Baird reiterated a “neutral” rating and set a $237.00 price target (down from $294.00) on shares of Nordson in a report on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $279.00.

Nordson Price Performance

Shares of NDSN traded down $3.01 during mid-day trading on Friday, hitting $226.10. 340,011 shares of the stock were exchanged, compared to its average volume of 238,290. The firm has a 50-day moving average of $254.50 and a two-hundred day moving average of $245.81. Nordson has a 52-week low of $222.18 and a 52-week high of $279.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. The company has a market cap of $12.93 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.85 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.59 by $0.19. Nordson had a net margin of 17.37% and a return on equity of 20.12%. The business had revenue of $744.00 million during the quarter, compared to analyst estimates of $736.83 million. During the same quarter last year, the business earned $2.46 earnings per share. Nordson’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts predict that Nordson will post 10.35 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Stephen Lovass sold 317 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $260.75, for a total value of $82,657.75. Following the completion of the sale, the executive vice president now owns 6,666 shares of the company’s stock, valued at approximately $1,738,159.50. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph P. Kelley sold 3,000 shares of Nordson stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total transaction of $749,940.00. Following the transaction, the executive vice president now directly owns 8,659 shares in the company, valued at approximately $2,164,576.82. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,629 shares of company stock valued at $914,400 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Nordson

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in Nordson by 6.2% during the third quarter. Franklin Resources Inc. now owns 84,697 shares of the industrial products company’s stock valued at $21,841,000 after acquiring an additional 4,919 shares during the last quarter. Tidal Investments LLC increased its position in shares of Nordson by 1.8% during the third quarter. Tidal Investments LLC now owns 14,181 shares of the industrial products company’s stock worth $3,724,000 after purchasing an additional 257 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Nordson by 8.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,311 shares of the industrial products company’s stock valued at $4,523,000 after purchasing an additional 1,326 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nordson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,443,366 shares of the industrial products company’s stock worth $377,919,000 after purchasing an additional 14,780 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Nordson by 1.1% during the 3rd quarter. M&T Bank Corp now owns 8,526 shares of the industrial products company’s stock worth $2,239,000 after buying an additional 93 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

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.