Nordstrom (NYSE:JWN) Stock Rating Upgraded by Barclays

Nordstrom (NYSE:JWN) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $23.00 price target on the specialty retailer’s stock, up from their previous price target of $18.00. Barclays‘s price target suggests a potential upside of 0.79% from the stock’s current price.

JWN has been the topic of a number of other reports. Bank of America increased their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Evercore ISI upped their price objective on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $20.23.

Nordstrom Stock Up 1.0 %

Shares of JWN opened at $22.82 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.36 and a debt-to-equity ratio of 2.76. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.03. The firm’s 50 day moving average is $22.10 and its 200-day moving average is $20.79. The stock has a market capitalization of $3.73 billion, a PE ratio of 12.47, a P/E/G ratio of 2.41 and a beta of 2.61.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Equities research analysts forecast that Nordstrom will post 1.9 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

Institutional investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC acquired a new position in shares of Nordstrom during the first quarter worth $30,000. Atlas Capital Advisors LLC lifted its holdings in Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares during the period. Rothschild Investment LLC acquired a new position in Nordstrom during the 2nd quarter worth about $39,000. Spire Wealth Management grew its position in shares of Nordstrom by 100.0% in the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,100 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares during the period. 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.