Nordstrom’s (JWN) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Tuesday,Benzinga reports. Telsey Advisory Group currently has a $24.00 target price on the specialty retailer’s stock.

A number of other equities analysts have also commented on the stock. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America raised 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. StockNews.com assumed coverage on shares of Nordstrom in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Barclays raised their price objective 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. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Trading Up 0.1 %

Shares of NYSE:JWN opened at $24.33 on Tuesday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. 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 company has a 50 day moving average price of $24.19 and a 200 day moving average price of $23.21.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts anticipate that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Michels Family Financial LLC bought a new position in shares of Nordstrom during the 4th quarter valued at $724,000. BCK Capital Management LP bought a new position in shares of Nordstrom during the 4th quarter valued at $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Nordstrom by 16.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock valued at $8,709,000 after purchasing an additional 50,049 shares in the last quarter. Towle & Co. bought a new position in shares of Nordstrom during the 4th quarter valued at $2,044,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Nordstrom during the 4th quarter valued at $164,000. 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.