StockNews.com Initiates Coverage on Nordstrom (NYSE:JWN)

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

JWN has been the topic of several other reports. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Citigroup increased their price objective 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. Evercore ISI lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, UBS Group boosted their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordstrom has an average rating of “Hold” and an average price target of $21.92.

Nordstrom Trading Down 0.2 %

Shares of JWN stock opened at $24.03 on Friday. 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 $3.97 billion, a P/E ratio of 15.31 and a beta of 2.52. The business has a 50-day moving average price of $23.41 and a two-hundred day moving average price of $22.71. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Equities analysts anticipate that Nordstrom will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Nordstrom in the second quarter worth about $71,000. Blue Trust Inc. raised its stake in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares during the period. CWM LLC lifted its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after acquiring an additional 2,227 shares during the period. Hedge funds and other 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.