Nordson (NDSN) Downgraded by DA Davidson

DA Davidson lowered shares of Nordson (NASDAQ:NDSN) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $125.00 target price on the industrial products company’s stock. DA Davidson also issued estimates for Nordson’s Q4 2018 earnings at $1.43 EPS, FY2018 earnings at $5.93 EPS, Q1 2019 earnings at $1.05 EPS, Q2 2019 earnings at $1.57 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.71 EPS, FY2019 earnings at $6.20 EPS, Q1 2020 earnings at $1.27 EPS, Q2 2020 earnings at $1.74 EPS, Q3 2020 earnings at $2.06 EPS, Q4 2020 earnings at $1.89 EPS and FY2020 earnings at $6.95 EPS.

Several other equities research analysts also recently issued reports on NDSN. Zacks Investment Research downgraded Nordson from a hold rating to a sell rating in a research note on Wednesday, November 28th. BidaskClub downgraded Nordson from a hold rating to a sell rating in a research note on Tuesday, August 7th. Finally, ValuEngine raised Nordson from a hold rating to a buy rating in a research note on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $151.57.

Shares of Nordson stock opened at $120.41 on Thursday. The stock has a market capitalization of $7.00 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.16 and a quick ratio of 2.36. Nordson has a 1 year low of $111.17 and a 1 year high of $151.84.

Nordson announced that its board has authorized a share buyback program on Tuesday, September 11th that permits the company to buyback $500.00 million in 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 a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Mary G. Puma sold 2,983 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $145.44, for a total transaction of $433,847.52. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.01% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NDSN. Bank of Montreal Can raised its stake in shares of Nordson by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 23,083 shares of the industrial products company’s stock worth $2,965,000 after purchasing an additional 426 shares in the last quarter. Hartford Investment Management Co. acquired a new position in shares of Nordson during the 2nd quarter valued at about $206,000. Janney Montgomery Scott LLC increased its holdings in shares of Nordson by 10.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 27,185 shares of the industrial products company’s stock valued at $3,491,000 after acquiring an additional 2,593 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Nordson by 133.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,636 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 2,653 shares during the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of Nordson by 21.6% during the 2nd quarter. Alps Advisors Inc. now owns 4,172 shares of the industrial products company’s stock valued at $611,000 after acquiring an additional 742 shares during the last quarter. 68.03% of the stock is owned by institutional investors.

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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