We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nordson's ACE Buyout to Boost Advanced Technology Sales
Read MoreHide Full Article
Precision dispensing equipment manufacturer Nordson Corporation (NDSN - Free Report) recently announced that it has acquired Spokane, WA-based ACE Production Technologies, Inc. Financial terms of the transaction were kept under wraps.
Post the release of fourth-quarter fiscal 2016 (ended Oct 31, 2016) results on Dec 14, 2016, shares of Nordson Corporation yielded a positive 1.4% return, outperforming the negative return of 0.6% generated by the Zacks categorized Machinery General Industrial industry.
As revealed, ACE Production Technologies specializes in the designing and manufacturing of selective soldering systems. These products are widely used in automotive and industrial electronics assembly applications as well as are being accepted in the avionics, industrial automation and appliances end markets. The firm currently employs roughly 35 people.
The buyout does not include ACE Production’s lead tinning business, which will continue its operation under a new name, Component Tinning Services, Inc.
Nordson Corporation will integrate the acquired assets with its Advanced Technology Systems segment. The company anticipates that ACE Production’s product line will complement its existing conformal coating and optical inspection solutions. Also, it anticipates that ACE Production’s end markets will grow in the years to come in a mid-to-high single-digit range.
We believe the acquisition is consistent with Nordson’s expansionary policy. In fourth-quarter fiscal 2016, benefits from acquired assets added 1% to revenue growth. The company anticipates total sales to grow 4−8% year over year in first-quarter fiscal 2017, including organic growth of 6−10%. Earnings are expected within 74−84 cents per share.
Zacks Rank & Stocks to Consider
With a market capitalization of nearly $6.4 billion, Nordson Corporation currently carries a Zacks Rank #3 (Hold). Over the last 30 days, the Zacks Consensus Estimate on the stock increased 2.7% to $5.00 per share for fiscal 2017 and 1.9% to $5.39 per share for fiscal 2018.
Some better-ranked stocks in the machinery industry include Altra Industrial Motion Corporation , RBC Bearings Incorporated and Sun Hydraulics Corporation . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion Corporation’s financial performance has been impressive, with an average positive earnings surprise of 8.06%, for the last four quarters. Also, earnings estimates for 2017 improved over the last 30 days.
RBC Bearings Incorporated’s financial performance has been impressive, with an average positive earnings surprise of 1.60%, for the last four quarters. Also, earnings estimates for fiscal 2017 remained stable while improved for fiscal 2018, over the last 30 days.
Sun Hydraulics Corporation’s earnings estimates for 2017 improved over the past 60 days.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nordson's ACE Buyout to Boost Advanced Technology Sales
Precision dispensing equipment manufacturer Nordson Corporation (NDSN - Free Report) recently announced that it has acquired Spokane, WA-based ACE Production Technologies, Inc. Financial terms of the transaction were kept under wraps.
Post the release of fourth-quarter fiscal 2016 (ended Oct 31, 2016) results on Dec 14, 2016, shares of Nordson Corporation yielded a positive 1.4% return, outperforming the negative return of 0.6% generated by the Zacks categorized Machinery General Industrial industry.
As revealed, ACE Production Technologies specializes in the designing and manufacturing of selective soldering systems. These products are widely used in automotive and industrial electronics assembly applications as well as are being accepted in the avionics, industrial automation and appliances end markets. The firm currently employs roughly 35 people.
The buyout does not include ACE Production’s lead tinning business, which will continue its operation under a new name, Component Tinning Services, Inc.
Nordson Corporation will integrate the acquired assets with its Advanced Technology Systems segment. The company anticipates that ACE Production’s product line will complement its existing conformal coating and optical inspection solutions. Also, it anticipates that ACE Production’s end markets will grow in the years to come in a mid-to-high single-digit range.
We believe the acquisition is consistent with Nordson’s expansionary policy. In fourth-quarter fiscal 2016, benefits from acquired assets added 1% to revenue growth. The company anticipates total sales to grow 4−8% year over year in first-quarter fiscal 2017, including organic growth of 6−10%. Earnings are expected within 74−84 cents per share.
Zacks Rank & Stocks to Consider
With a market capitalization of nearly $6.4 billion, Nordson Corporation currently carries a Zacks Rank #3 (Hold). Over the last 30 days, the Zacks Consensus Estimate on the stock increased 2.7% to $5.00 per share for fiscal 2017 and 1.9% to $5.39 per share for fiscal 2018.
Nordson Corporation Price and Consensus
Nordson Corporation Price and Consensus | Nordson Corporation Quote
Some better-ranked stocks in the machinery industry include Altra Industrial Motion Corporation , RBC Bearings Incorporated and Sun Hydraulics Corporation . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion Corporation’s financial performance has been impressive, with an average positive earnings surprise of 8.06%, for the last four quarters. Also, earnings estimates for 2017 improved over the last 30 days.
RBC Bearings Incorporated’s financial performance has been impressive, with an average positive earnings surprise of 1.60%, for the last four quarters. Also, earnings estimates for fiscal 2017 remained stable while improved for fiscal 2018, over the last 30 days.
Sun Hydraulics Corporation’s earnings estimates for 2017 improved over the past 60 days.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>