B.Riley FBR analyst Liam Burke maintained a Buy rating on Nordson Corp (NASDAQ: NDSN) yesterday and set a price target of $165. The company’s shares opened today at $124.59.
Burke noted:
“Nordson (NDSN) posted better-than-expected GAAP EPS results and segment operating profit, but lower Y/Y revenue volumes in Advanced Technology Systems that translated to lower-than- expected Y/Y revenue results. Advanced Technology Systems (ATS) faced tough comparisons from 3Q17 which contributed to Y/Y revenue declines and lower Y/Y operating margins. Segment operating profit was in line with consensus as Adhesives and ATS segments were slightly below consensus and Industrial Coatings reported stronger-than-expected results. For the first three quarters of 2018, cash flow exceeded earnings. Despite near-term revenue declines at ATS, Nordson remains committed to long-term revenue growth of 1.5x to 2.0x GDP .”
According to TipRanks.com, Burke is a 4-star analyst with an average return of 4.9% and a 64.3% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Carlisle Companies Inc, and Enpro Industries.
Nordson Corp has an analyst consensus of Moderate Buy, with a price target consensus of $149.43, representing a 19.9% upside. In a report released today, D.A. Davidson also maintained a Buy rating on the stock with a $160 price target.
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The company has a one-year high of $151.84 and a one-year low of $107.16. Currently, Nordson Corp has an average volume of 225.7K.
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Nordson Corp. engages in the engineering, manufacture, and market of products and systems used for adhesives, coatings, sealants, biomaterials, and other materials. It operates through three segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems.
