Nordstrom (NYSE:JWN) Upgraded by StockNews.com to “Buy”

Nordstrom (NYSE:JWN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

A number of other research firms have also weighed in on JWN. Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a research note on Friday, May 31st. The Goldman Sachs Group boosted their price objective on shares of Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Evercore ISI upped their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Finally, Barclays raised their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.42.

Nordstrom Trading Up 1.0 %

Shares of JWN opened at $21.46 on Wednesday. The company’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $19.63. The company has a market cap of $3.51 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.43 and a beta of 2.62. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.54.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts expect that Nordstrom will post 1.79 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Nordstrom by 42.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after purchasing an additional 975,918 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Nordstrom by 64.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after purchasing an additional 1,104,604 shares in the last quarter. Schroder Investment Management Group increased its stake in Nordstrom by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after purchasing an additional 820,390 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Nordstrom by 15.2% in the fourth quarter. LSV Asset Management now owns 1,544,496 shares of the specialty retailer’s stock worth $28,496,000 after buying an additional 203,807 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.