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

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

Other equities research analysts also recently issued research reports about the stock. Barclays upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. Finally, Citigroup increased their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.17.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $24.33 on Wednesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm’s 50-day simple moving average is $24.04 and its 200-day simple moving average is $23.10. Nordstrom has a twelve month low of $16.78 and a twelve month high of $24.99. The firm has a market cap of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, research analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in JWN. Pentwater Capital Management LP acquired a new position in Nordstrom during the fourth quarter worth $61,582,000. Hennessy Advisors Inc. acquired a new position in Nordstrom during the fourth quarter worth $56,026,000. Norges Bank acquired a new position in Nordstrom during the fourth quarter worth $33,480,000. Great Lakes Advisors LLC acquired a new stake in Nordstrom in the fourth quarter valued at $21,736,000. Finally, Verition Fund Management LLC lifted its stake in Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after acquiring an additional 725,803 shares during the last quarter. Institutional investors and hedge funds 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.