Nordson (NASDAQ:NDSN) Given New $250.00 Price Target at KeyCorp

Nordson (NASDAQ:NDSN) had its price objective raised by equities research analysts at KeyCorp from $230.00 to $250.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective indicates a potential upside of 14.45% from the company’s current price.

NDSN has been the topic of a number of other research reports. Robert W. Baird raised their price objective on shares of Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Oppenheimer raised shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 price objective for the company in a research report on Friday, May 30th. Vertical Research initiated coverage on Nordson in a research note on Tuesday, June 17th. They issued a “hold” rating and a $245.00 price objective for the company. Wolfe Research assumed coverage on Nordson in a report on Wednesday, June 18th. They set a “peer perform” rating for the company. Finally, Wall Street Zen downgraded Nordson from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $254.86.

Nordson Trading Down 1.1%

Nordson stock opened at $218.43 on Tuesday. Nordson has a one year low of $165.03 and a one year high of $266.86. The business’s fifty day moving average is $209.56 and its 200 day moving average is $205.94. The stock has a market capitalization of $12.34 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64.

Nordson (NASDAQ:NDSN) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 EPS for the quarter, topping 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 period in the previous year, the business posted $2.34 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Nordson will post 10.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NDSN. Quarry LP purchased a new stake in shares of Nordson in the first quarter worth about $28,000. UMB Bank n.a. lifted its position in Nordson by 96.3% during the second quarter. UMB Bank n.a. now owns 161 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Nordson by 86.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock worth $39,000 after buying an additional 89 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 worth $41,000 after buying an additional 54 shares during the last quarter. Finally, National Pension Service grew its position in Nordson by 74.8% in the first quarter. National Pension Service now owns 201 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 86 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.