Argus Downgrades Nordstrom (NYSE:JWN) to Sell

Nordstrom (NYSE:JWN) was downgraded by Argus from a “buy” rating to a “sell” rating in a report released on Monday, Marketbeat.com reports.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. Evercore ISI boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. UBS Group raised their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research note on Wednesday, November 27th. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup increased their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Nordstrom has a consensus rating of “Hold” and an average target price of $21.13.

Nordstrom Price Performance

NYSE:JWN opened at $24.21 on Monday. Nordstrom has a 52-week low of $16.63 and a 52-week high of $24.99. 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 firm has a market cap of $4.00 billion, a P/E ratio of 15.42 and a beta of 2.56. The business’s 50-day moving average price is $23.19 and its 200 day moving average price is $22.53.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in JWN. Victory Capital Management Inc. increased its position in Nordstrom by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after buying an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nordstrom by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after acquiring an additional 137,094 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Nordstrom by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares during the period. Institutional investors and hedge funds 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.