Nordson (NASDAQ:NDSN) Rating Lowered to Hold at Wall Street Zen

Nordson (NASDAQ:NDSN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

NDSN has been the subject of a number of other reports. Oppenheimer upgraded Nordson from a "market perform" rating to an "outperform" rating and set a $260.00 price target for the company in a report on Friday, May 30th. Vertical Research began coverage on shares of Nordson in a research note on Tuesday, June 17th. They set a "hold" rating and a $245.00 target price for the company. Robert W. Baird lifted their price target on shares of Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. KeyCorp decreased their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wolfe Research initiated coverage on shares of Nordson in a research report on Wednesday, June 18th. They set a "peer perform" rating for the company. Six equities research 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 data from MarketBeat, Nordson currently has a consensus rating of "Moderate Buy" and an average price target of $252.00.

Nordson Price Performance

Shares of NDSN stock traded up $0.21 during trading hours on Friday, reaching $215.12. The company had a trading volume of 510,824 shares, compared to its average volume of 328,131. Nordson has a 12-month low of $165.03 and a 12-month high of $266.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.56. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.65 and a beta of 0.89. The stock has a fifty day moving average of $202.82 and a 200-day moving average of $206.01.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.06. Nordson had a net margin of 16.51% and a return on equity of 19.10%. The firm had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Nordson's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Nordson will post 10.2 earnings per share for the current year.

Hedge Funds Weigh In On Nordson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NDSN. Quarry LP acquired a new stake in shares of Nordson in the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB raised its position in Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 89 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Nordson by 36.7% in the 1st 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. National Pension Service grew its position in shares of Nordson by 74.8% during the first quarter. National Pension Service now owns 201 shares of the industrial products company's stock worth $41,000 after buying an additional 86 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of Nordson by 73.7% during the fourth quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company's stock worth $57,000 after buying an additional 115 shares in the last quarter. Hedge funds and other 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.