StockNews.com Downgrades Nordstrom (NYSE:JWN) to Buy

Nordstrom (NYSE:JWN) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

JWN has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, Telsey Advisory Group upped their target price on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Trading Up 3.5 %

Shares of NYSE:JWN opened at $23.99 on Thursday. The business’s 50-day moving average is $22.88 and its 200 day moving average is $22.29. Nordstrom has a 1 year low of $15.08 and a 1 year high of $24.99. The firm has a market capitalization of $3.94 billion, a P/E ratio of 15.28 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last announced its earnings results 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 return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that Nordstrom will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Alexis Depree sold 20,000 shares of the firm’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 transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.78% of the company’s stock.

Institutional Investors Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently made changes to their positions in JWN. Venturi Wealth Management LLC increased its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Nordstrom by 101.8% in 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 last quarter. Rothschild Investment LLC acquired a new stake in shares of Nordstrom in the second quarter valued at approximately $39,000. Blue Trust Inc. increased its holdings in shares of Nordstrom by 10,045.8% in 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 during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom in the second quarter valued at approximately $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.