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

Investment analysts at StockNews.com began 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 brokerages also recently issued reports on JWN. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group increased their target price on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, Bank of America raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $21.13.

Nordstrom Trading Down 0.0 %

NYSE JWN opened at $24.11 on Friday. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The business has a 50 day moving average price of $23.38 and a 200-day moving average price of $22.68. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts expect that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently bought and sold shares of JWN. Venturi Wealth Management LLC lifted its stake in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Nordstrom in the second quarter valued at about $71,000. Blue Trust Inc. boosted its stake in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after acquiring an additional 1,404 shares during the period. CWM LLC grew its position in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after purchasing an additional 2,227 shares in the last quarter. 88.73% of the stock is owned by 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.