In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Nordson Corp (NASDAQ: NDSN). The company’s shares closed yesterday at $131.63.
Glynn noted:
“We discussed end-market dynamics, product innovation and technology development leadership across the portfolio to drive expanded tiering/reach across customer base, installed base renewal, and ASP. ADS expectations for solid FY2H18 organic performance reflect strong backlog positions for general product assembly and plastics processing; rigid packaging markets remain steady. ATS outlook for soft mobile (especially automated dispense) remains the near-term negative (with ICS automotive), with the balance of markets growing steadily. For ATS mobile, management is not concerned about long-term runway for customers’ product feature innovations to drive demand growth for NDSN equipment.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 10.8% and a 68.1% 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 Moderate Buy and the average price target is $153.75, representing a 16.8% upside.
In a report issued on May 23, Wells Fargo also reiterated a Hold rating on the stock with a $135 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 236K.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock.
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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.
