Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Saturday. The firm set a “buy” rating on the specialty retailer’s stock.

JWN has been the subject of a number of other reports. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Finally, Evercore ISI increased their price target on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.17.

Nordstrom Stock Down 0.1 %

JWN stock opened at $24.12 on Friday. The stock has a market cap of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52. 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 has a twelve month low of $16.78 and a twelve month high of $24.99. The company’s 50 day moving average is $23.55 and its two-hundred day moving average is $22.80.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the business earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that Nordstrom will post 1.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

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