Nordstrom, Inc. (NYSE:JWN) Receives Average Recommendation of “Reduce” from Analysts

Nordstrom, Inc. (NYSE:JWN) has received a consensus recommendation of “Reduce” from the fourteen analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.17.

A number of research analysts have recently issued reports on the company. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Citigroup boosted their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, StockNews.com assumed coverage on Nordstrom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock.

Institutional Trading of Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of JWN. CWM LLC raised its holdings in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares in the last quarter. Creative Planning raised its holdings in Nordstrom by 22.9% during the third quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock valued at $270,000 after buying an additional 2,238 shares in the last quarter. Blue Trust Inc. raised its holdings in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Nordstrom by 42.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,250 shares of the specialty retailer’s stock valued at $183,000 after buying an additional 2,450 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Nordstrom by 7.3% during the third 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 in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Trading Down 0.1 %

JWN opened at $24.33 on Monday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The business’s 50 day moving average is $24.15 and its two-hundred day moving average is $23.17. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping 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 return on equity of 18.04% and a negative net margin of 1.57%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, research analysts predict that Nordstrom will post 1.97 EPS for the current year.

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.