Evercore ISI Forecasts Strong Price Appreciation for Nordstrom (NYSE:JWN) Stock

Nordstrom (NYSE:JWN) had its price objective increased by equities research analysts at Evercore ISI from $20.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price target would suggest a potential downside of 2.74% from the company’s current price.

JWN has been the subject of a number of other reports. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. BMO Capital Markets raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. TD Cowen increased their target price on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.29.

Nordstrom Price Performance

JWN stock opened at $22.62 on Wednesday. The firm has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a 1 year low of $14.80 and a 1 year high of $24.99. The stock has a 50-day simple moving average of $22.85 and a 200-day simple moving average of $22.23.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the company earned $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of large investors have recently modified their holdings of JWN. Venturi Wealth Management LLC increased its position in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC increased its holdings in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC acquired a new position in shares of Nordstrom during the second quarter valued at $39,000. Blue Trust Inc. raised its stake in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Nordstrom in the second quarter worth about $71,000. Institutional investors and hedge funds 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.