Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other equities research analysts also recently weighed in on JWN. Barclays raised their price target 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 lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. Bank of America raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Trading Down 0.0 %

JWN opened at $24.33 on Wednesday. The company’s 50 day moving average is $24.04 and its 200-day moving average is $23.10. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company 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 posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating 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 last year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew 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 period. Spire Wealth Management raised its stake in shares of 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 purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom during the 4th quarter worth $63,000. Vestcor Inc bought a new stake in shares of Nordstrom during the 4th quarter worth $63,000. Finally, Blue Trust Inc. raised 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 acquiring an additional 1,404 shares during the period. Institutional investors 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.