Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a note issued to investors on Sunday. The firm set a “buy” rating on the specialty retailer’s stock.

Other equities research analysts also recently issued reports about the company. Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Finally, Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Performance

Shares of NYSE:JWN opened at $24.23 on Friday. The company has a market cap of $4.00 billion, a P/E ratio of 15.44 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a one year low of $17.21 and a one year high of $24.99. The business’s 50-day simple moving average is $24.26 and its 200 day simple moving average is $23.50.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, sell-side analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of institutional investors have recently made changes to their positions in JWN. Spire Wealth Management grew its stake 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 last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Nordstrom in the fourth quarter valued at $63,000. Vestcor Inc acquired a new stake in shares of Nordstrom in the fourth quarter valued at $63,000. Atlas Capital Advisors Inc. lifted its holdings in shares of Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after purchasing an additional 1,391 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after purchasing an additional 1,287 shares during the last quarter. 88.73% of the stock is currently owned by 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.