Nordson (NDSN) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Nordson (NASDAQ:NDSN) from a strong sell rating to a sell rating in a research report report published on Wednesday.

Other equities research analysts have also issued research reports about the company. DA Davidson set a $160.00 target price on Nordson and gave the company a buy rating in a research report on Tuesday, August 21st. ValuEngine upgraded Nordson from a hold rating to a buy rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research lowered Nordson from a hold rating to a sell rating in a research report on Wednesday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $156.57.

Shares of Nordson stock traded up $1.16 on Wednesday, hitting $127.99. 237,566 shares of the company’s stock traded hands, compared to its average volume of 240,405. Nordson has a one year low of $111.17 and a one year high of $151.84. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.36. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.47 and a beta of 1.33.

Nordson (NASDAQ:NDSN) last announced its earnings results on Monday, August 20th. The industrial products company reported $1.60 EPS for the quarter, meeting the consensus estimate of $1.60. Nordson had a return on equity of 26.37% and a net margin of 16.40%. The company had revenue of $581.20 million for the quarter, compared to analyst estimates of $590.75 million. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Nordson will post 5.98 EPS for the current fiscal year.

Nordson declared that its board has authorized a share repurchase program on Tuesday, September 11th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

In related news, Director Mary G. Puma sold 2,983 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total transaction of $433,847.52. Following the transaction, the director now directly owns 18,799 shares of the company’s stock, valued at approximately $2,734,126.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.01% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. King Luther Capital Management Corp acquired a new position in Nordson during the 2nd quarter worth approximately $690,000. American International Group Inc. raised its stake in Nordson by 1.0% during the 2nd quarter. American International Group Inc. now owns 103,315 shares of the industrial products company’s stock worth $13,267,000 after buying an additional 1,009 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Nordson by 45.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 282,042 shares of the industrial products company’s stock worth $36,218,000 after buying an additional 88,485 shares during the period. PNC Financial Services Group Inc. raised its stake in Nordson by 18.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the industrial products company’s stock worth $332,000 after buying an additional 398 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Nordson by 24.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,570 shares of the industrial products company’s stock worth $843,000 after buying an additional 1,280 shares during the period. 67.74% of the stock is currently 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. Its Adhesive Dispensing Systems segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; and product assembly dispensing, coating, and laminating systems for use in paper and paperboard converting applications, as well as for the manufacture of roll goods.

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