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

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

Several other research analysts have also recently weighed in on JWN. Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Monday, January 13th. UBS Group upgraded 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 report on Friday, January 10th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Stock Up 0.5 %

Shares of NYSE JWN opened at $24.28 on Monday. The stock has a market cap of $4.01 billion, a PE ratio of 15.46 and a beta of 2.51. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a 50-day moving average of $23.82 and a 200 day moving average of $22.94.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently bought and sold shares of the business. Retirement Systems of Alabama raised its stake in shares of Nordstrom by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock valued at $2,845,000 after acquiring an additional 512 shares in the last quarter. Amalgamated Bank raised its position in Nordstrom by 1.4% in the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock valued at $1,089,000 after purchasing an additional 617 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after buying an additional 640 shares during the period. Wedmont Private Capital grew its position in shares of Nordstrom by 6.7% during the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after buying an additional 723 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 760 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other 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.