Nordson (NASDAQ:NDSN) Stock Rating Lowered by Wall Street Zen

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

Other analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Nordson from $241.00 to $245.00 and gave the company a "neutral" rating in a report on Friday, May 30th. 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 initiated coverage on Nordson in a report on Tuesday, June 17th. They issued a "hold" rating and a $245.00 price target for the company. KeyCorp reduced their price objective on shares of Nordson from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wolfe Research initiated coverage on shares of Nordson in a research note on Wednesday, June 18th. They issued a "peer perform" rating for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nordson currently has an average rating of "Moderate Buy" and a consensus target price of $252.00.

Nordson Trading Down 0.3%

Shares of NASDAQ NDSN traded down $0.75 during trading hours on Friday, reaching $214.37. The stock had a trading volume of 354,429 shares, compared to its average volume of 327,769. The company has a current ratio of 2.56, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 1.65 and a beta of 0.89. The business's fifty day moving average price is $202.82 and its two-hundred day moving average price is $205.54. Nordson has a 52-week low of $165.03 and a 52-week high of $266.86.

Nordson (NASDAQ:NDSN - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $682.94 million during the quarter, compared to analyst estimates of $671.36 million. Nordson had a return on equity of 19.10% and a net margin of 16.51%. Nordson's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. Analysts expect that Nordson will post 10.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordson

A number of large investors have recently made changes to their positions in NDSN. Quarry LP acquired a new position in shares of Nordson during the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company's stock worth $39,000 after purchasing an additional 89 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Nordson by 36.7% during the first quarter. Harbour Investments Inc. now owns 201 shares of the industrial products company's stock worth $41,000 after purchasing an additional 54 shares in the last quarter. National Pension Service increased 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 purchasing an additional 86 shares in the last quarter. Finally, Tortoise Investment Management LLC increased 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 purchasing an additional 115 shares in the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

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.