StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

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

Other equities analysts also recently issued reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Monday, January 13th. Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Barclays raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Evercore ISI raised their price target on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Nordstrom has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Down 0.1 %

NYSE:JWN opened at $24.22 on Monday. The company’s fifty day moving average price is $23.84 and its 200-day moving average price is $22.94. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The firm has a market capitalization of $4.00 billion, a P/E ratio of 15.42 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) 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 firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Nordstrom will post 1.97 EPS for the current year.

Institutional Trading of Nordstrom

Several institutional investors and hedge funds have recently bought and sold shares of JWN. Venturi Wealth Management LLC raised its position in Nordstrom by 355.9% in the 3rd 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 during the last quarter. Spire Wealth Management increased its stake in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the period. Blue Trust Inc. increased its stake in Nordstrom by 57.7% in the 3rd 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 during the period. CWM LLC increased its stake in Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares during the period. Finally, KBC Group NV increased its stake in Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,287 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.