Nordstrom (NYSE:JWN) Earns Sell Rating from Citigroup

Nordstrom (NYSE:JWN)‘s stock had its “sell” rating restated by analysts at Citigroup in a report issued on Friday, Marketbeat reports. They presently have a $22.00 target price on the specialty retailer’s stock, down from their previous target price of $25.00. Citigroup’s price target would indicate a potential downside of 5.68% from the stock’s previous close.

A number of other brokerages have also commented on JWN. Evercore ISI lifted their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating 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. StockNews.com began coverage on shares of Nordstrom in a research report on Monday, March 31st. They set a “buy” rating for the company. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Barclays increased their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.80.

Nordstrom Stock Performance

Shares of JWN opened at $23.33 on Friday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 14.86 and a beta of 2.31. Nordstrom has a 52 week low of $17.21 and a 52 week high of $24.99. The stock has a 50 day moving average price of $24.29 and a two-hundred day moving average price of $23.63. 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 (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion during 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%. Equities analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

Several institutional investors and hedge funds have recently bought and sold shares of JWN. Pentwater Capital Management LP bought a new stake in Nordstrom during the fourth quarter valued at $61,582,000. Hennessy Advisors Inc. purchased a new stake in Nordstrom in the fourth quarter valued at approximately $56,026,000. Norges Bank bought a new stake in Nordstrom during the fourth quarter valued at approximately $33,480,000. Great Lakes Advisors LLC purchased a new position in Nordstrom in the 4th quarter worth approximately $21,736,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Nordstrom by 453.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 667,710 shares of the specialty retailer’s stock worth $16,125,000 after buying an additional 547,147 shares during the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.