StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

Investment analysts at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Saturday. The brokerage set a “buy” rating on the specialty retailer’s stock.

JWN has been the topic of a number of other reports. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Monday, January 13th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup boosted 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Trading Down 0.1 %

Shares of Nordstrom stock opened at $24.12 on Friday. The stock has a 50 day moving average of $23.55 and a 200 day moving average of $22.80. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52. Nordstrom has a fifty-two week low of $16.78 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, research analysts predict that Nordstrom will post 1.95 earnings per share for the current year.

Institutional Trading of Nordstrom

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Nordstrom by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after acquiring an additional 137,094 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Nordstrom in the 4th quarter valued at $56,026,000. Geode Capital Management LLC lifted its position in shares of Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

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.