Nordson Corporation (NASDAQ:NDSN) Receives $255.75 Average Price Target from Brokerages

Nordson Corporation (NASDAQ:NDSN) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $255.75.

A number of analysts have commented on NDSN shares. Jefferies Financial Group reissued a “hold” rating and issued a $240.00 target price on shares of Nordson in a report on Thursday, August 21st. Robert W. Baird lifted their price objective on Nordson from $245.00 to $252.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Oppenheimer boosted their target price on Nordson from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, August 25th. Wall Street Zen raised shares of Nordson from a “hold” rating to a “buy” rating in a report on Sunday. Finally, DA Davidson set a $285.00 price target on shares of Nordson in a research note on Tuesday, October 21st.

Insiders Place Their Bets

In other news, EVP Joseph P. Kelley sold 2,200 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $240.00, for a total transaction of $528,000.00. Following the transaction, the executive vice president directly owned 6,405 shares of the company’s stock, valued at $1,537,200. This represents a 25.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James E. Devries sold 9,100 shares of Nordson stock in a transaction on Monday, November 10th. The stock was sold at an average price of $233.60, for a total value of $2,125,760.00. Following the completion of the sale, the executive vice president directly owned 51,223 shares of the company’s stock, valued at $11,965,692.80. The trade was a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,600 shares of company stock valued at $3,188,257. Company insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Nordson

Several institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Nordson during the second quarter valued at approximately $139,218,000. JPMorgan Chase & Co. grew its position in shares of Nordson by 110.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 718,616 shares of the industrial products company’s stock valued at $163,093,000 after acquiring an additional 376,395 shares during the period. Millennium Management LLC increased its stake in shares of Nordson by 61.9% in the 3rd quarter. Millennium Management LLC now owns 592,385 shares of the industrial products company’s stock worth $134,442,000 after purchasing an additional 226,514 shares in the last quarter. Confluence Investment Management LLC increased its stake in shares of Nordson by 118.5% in the 2nd quarter. Confluence Investment Management LLC now owns 336,090 shares of the industrial products company’s stock worth $72,048,000 after purchasing an additional 182,305 shares in the last quarter. Finally, Nuveen LLC bought a new position in Nordson in the 1st quarter worth $29,125,000. Institutional investors own 72.11% of the company’s stock.

Nordson Stock Down 1.1%

NASDAQ:NDSN opened at $235.03 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.11 and a current ratio of 1.69. The firm has a market cap of $13.21 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.77 and a beta of 0.98. Nordson has a fifty-two week low of $165.03 and a fifty-two week high of $260.88. The firm has a 50-day simple moving average of $232.17 and a two-hundred day simple moving average of $222.06.

Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Thursday, September 8th. The industrial products company reported $2.42 EPS for the quarter. Nordson had a net margin of 16.34% and a return on equity of 19.45%. The firm had revenue of $646.86 million for the quarter. Analysts predict that Nordson will post 10.2 earnings per share for the current fiscal year.

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.