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

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

Separately, Robert W. Baird reiterated a “neutral” rating and issued a $237.00 target price (down previously 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $279.00.

Nordson Price Performance

NDSN stock traded down $3.01 during trading on Friday, reaching $226.10. 340,011 shares of the company were exchanged, compared to its average volume of 238,290. The company has a 50-day moving average of $254.50 and a two-hundred day moving average of $245.81. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.85 and a beta of 0.90. Nordson has a twelve month low of $222.18 and a twelve month high of $279.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.36 and a quick ratio of 1.52.

Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, December 11th. The industrial products company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.59 by $0.19. The firm had revenue of $744.00 million for the quarter, compared to the consensus estimate of $736.83 million. Nordson had a return on equity of 20.12% and a net margin of 17.37%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. As a group, equities analysts predict that Nordson will post 10.35 earnings per share for the current fiscal year.

Insider Transactions at Nordson

In other news, EVP Jennifer L. Mcdonough sold 225 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $262.27, for a total value of $59,010.75. Following the transaction, the executive vice president now owns 3,287 shares in the company, valued at approximately $862,081.49. This represents a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joseph P. Kelley sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $249.98, for a total value 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. Over the last 90 days, insiders have sold 3,629 shares of company stock worth $914,400. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Nordson in the 2nd quarter worth $27,000. Tortoise Investment Management LLC grew its position in shares of Nordson by 70.7% during the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Blue Trust Inc. raised its stake in Nordson by 130.0% during the 3rd quarter. Blue Trust Inc. now owns 161 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 91 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Nordson in the 2nd quarter worth approximately $46,000. Finally, UMB Bank n.a. grew its holdings in Nordson by 2,387.5% during the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after buying an additional 191 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

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.