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

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

Several other equities research analysts have also recently issued reports on the company. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Bank of America boosted their price objective 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. Finally, Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Performance

JWN stock opened at $24.21 on Friday. The business’s fifty day moving average is $24.25 and its 200-day moving average is $23.42. 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 $3.99 billion, a P/E ratio of 15.42 and a beta of 2.60. Nordstrom has a twelve month low of $16.79 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion for 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 research analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pentwater Capital Management LP bought a new position in shares of Nordstrom in the fourth quarter worth approximately $61,582,000. Hennessy Advisors Inc. acquired a new stake in Nordstrom in the 4th quarter worth approximately $56,026,000. Norges Bank purchased a new stake in shares of Nordstrom in the 4th quarter valued at $33,480,000. Great Lakes Advisors LLC purchased a new stake in shares of Nordstrom in the 4th quarter valued at $21,736,000. Finally, Verition Fund Management LLC lifted its stake in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 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.