Nordstrom (NYSE:JWN) Given Market Perform Rating at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a research note issued on Monday,Benzinga reports. They currently have a $24.00 price target on the specialty retailer’s stock. Telsey Advisory Group’s price target would suggest a potential downside of 0.54% from the stock’s current price.

A number of other brokerages have also recently weighed in on JWN. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. StockNews.com initiated coverage on shares of Nordstrom in a research report on Friday, January 10th. They set a “buy” rating on the stock. Bank of America lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Finally, Citigroup raised their price target 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. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.08.

Nordstrom Stock Down 0.1 %

Shares of NYSE:JWN opened at $24.13 on Monday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.37 and a beta of 2.52. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The business has a 50-day moving average price of $23.46 and a 200 day moving average price of $22.76. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business 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 business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. Sell-side analysts expect that Nordstrom will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

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