Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Sunday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other equities analysts also recently weighed in on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Monday, January 13th. Finally, Barclays raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

Shares of JWN opened at $24.18 on Friday. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. 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 stock has a 50 day moving average price of $23.67 and a two-hundred day moving average price of $22.89. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.40 and a beta of 2.52.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion for 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 business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Equities analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after purchasing an additional 640 shares during the period. Wedmont Private Capital increased its stake in shares of Nordstrom by 6.7% in the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after buying an additional 723 shares during the period. State of Alaska Department of Revenue raised its holdings in Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 760 shares during the last quarter. Stephens Inc. AR boosted its position in Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after buying an additional 805 shares during the period. Finally, CWM LLC grew its holdings in Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares during the last quarter. 88.73% of the stock is 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.