Oppenheimer analyst Christopher Glynn maintained a Buy rating on Nordson Corp (NDSN) yesterday and set a price target of $155. The company’s shares closed yesterday at $145.76, close to its 52-week high of $146.84.
Glynn wrote:
“We discussed NDSN’s compounding model and strategies, both organic and inorganic, and operating model. NDSN remains focused on and confident in ability to expand deployment of core technologies to expanded vertical market applications in support of expected long-term organic growth (ATS 2-3x GDP; ADS 1.5-2x). In fact, NDSN posted a 5% five-year organic CAGR through FY18, one of only two companies in our coverage with positive organic growth each of those years (FY18 of 2.5% was lowest). We view the stability, as characterized by 45-50% of sales from wear- out aftermarket parts and consumables on a growing installed base, with equipment markets characterized by stable consumer nondurables (ADS characteristically) and higher growth end markets (ATS characteristically—Medical and Electronics).”
According to TipRanks.com, Glynn is a 4-star analyst with an average return of 6.2% and a 59.1% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
Currently, the analyst consensus on Nordson Corp is a Moderate Buy with an average price target of $160.
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Nordson Corp’s market cap is currently $8.36B and has a P/E ratio of 26.69. The company has a Price to Book ratio of 5.96.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. Earlier this month, James Devries, the EVP of NDSN sold 7,500 shares for a total of $1,010,260.
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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, Advanced Technology, and Industrial Coating Systems.
