Nordstrom (NYSE:JWN) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Nordstrom (NYSE:JWN) in a research note published on Tuesday morning,Benzinga reports. They currently have a $24.00 price target on the specialty retailer’s stock.

Several other analysts have also weighed in on the stock. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. StockNews.com started coverage on shares of Nordstrom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Barclays lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI lifted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

NYSE:JWN opened at $24.33 on Tuesday. The firm’s 50-day moving average is $24.19 and its 200-day moving average is $23.21. Nordstrom has a 52-week low of $16.78 and a 52-week 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 market cap of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently modified their holdings of JWN. Pentwater Capital Management LP bought a new position in shares of Nordstrom in the fourth quarter worth about $61,582,000. Hennessy Advisors Inc. bought a new position in shares of Nordstrom in the fourth quarter worth about $56,026,000. Norges Bank bought a new position in shares of Nordstrom in the fourth quarter worth about $33,480,000. Great Lakes Advisors LLC bought a new position in shares of Nordstrom in the fourth quarter worth about $21,736,000. Finally, Verition Fund Management LLC raised its stake in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after acquiring an additional 725,803 shares during the last quarter. 88.73% of the stock is owned by 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.