Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research note issued on Friday. The brokerage set a “buy” rating on the specialty retailer’s stock.

A number of other research analysts have also issued reports on the stock. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Barclays raised their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.36.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.39 on Friday. The firm has a market cap of $4.02 billion, a P/E ratio of 15.53 and a beta of 2.51. The business’s 50 day moving average is $24.23 and its 200-day moving average is $23.31. 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 1-year low of $16.78 and a 1-year high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Equities research analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in shares of Nordstrom by 355.9% during 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 in the last quarter. Spire Wealth Management boosted its position in Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new stake in Nordstrom during the 4th quarter worth approximately $63,000. Vestcor Inc bought a new stake in Nordstrom during the 4th quarter worth approximately $63,000. Finally, Atlas Capital Advisors Inc. increased its position in Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after acquiring an additional 1,391 shares during the period. Institutional investors own 88.73% of the company’s stock.

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.