Nordstrom (NYSE:JWN) Stock Price Expected to Rise, UBS Group Analyst Says

Nordstrom (NYSE:JWN) had its target price raised by equities researchers at UBS Group from $13.00 to $14.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the specialty retailer’s stock. UBS Group’s price objective suggests a potential downside of 35.90% from the company’s previous close.

JWN has been the topic of several other research reports. TD Cowen increased their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nordstrom has an average rating of “Hold” and a consensus target price of $21.29.

Nordstrom Stock Down 8.1 %

Shares of NYSE JWN opened at $22.62 on Wednesday. Nordstrom has a 52-week low of $14.80 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The business has a fifty day moving average of $22.85 and a two-hundred day moving average of $22.23. The stock has a market cap of $3.71 billion, a PE ratio of 13.23 and a beta of 2.59.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts expect that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of Nordstrom by 29.9% during the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after acquiring an additional 11,583 shares in the last quarter. Tidal Investments LLC boosted its stake in Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock worth $396,000 after purchasing an additional 5,690 shares during the period. Sanctuary Advisors LLC increased its holdings in Nordstrom by 160.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after purchasing an additional 31,498 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Nordstrom in the 3rd quarter valued at about $451,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares in 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.