UBS Group Upgrades Nordstrom (NYSE:JWN) to Neutral

Nordstrom (NYSE:JWN) was upgraded by research analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. The firm currently has a $24.00 target price on the specialty retailer’s stock, up from their prior target price of $14.50. UBS Group’s price target points to a potential downside of 0.12% from the company’s previous close.

A number of other equities research analysts have also recently commented on JWN. Telsey Advisory Group dropped their price objective on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 24th. Evercore ISI increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. StockNews.com assumed coverage on shares of Nordstrom in a report on Friday. They set a “buy” rating on the stock. Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $21.92.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $24.03 on Friday. The company has a 50 day simple moving average of $23.41 and a two-hundred day simple moving average of $22.71. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 15.31 and a beta of 2.52. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, analysts predict that Nordstrom will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC increased its position in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Nordstrom during the second quarter worth about $71,000. Blue Trust Inc. increased its position in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares during the last quarter. CWM LLC increased its position in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 2,227 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.