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

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the specialty retailer’s stock.

Several other research analysts also recently commented on JWN. Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Citigroup boosted 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. 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. Barclays boosted their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Performance

NYSE JWN opened at $24.32 on Tuesday. The company has a 50-day simple moving average of $23.91 and a two-hundred day simple moving average of $23.01. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, equities analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Institutional Trading of Nordstrom

A number of hedge funds and other institutional investors have recently modified their holdings of JWN. Sanctuary Advisors LLC bought a new stake in Nordstrom during the second quarter worth about $415,000. CWM LLC lifted its holdings in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Nordstrom by 12.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 87,514 shares of the specialty retailer’s stock worth $1,968,000 after purchasing an additional 9,871 shares in the last quarter. Creative Planning grew its stake in shares of Nordstrom by 22.9% in the 3rd quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock worth $270,000 after buying an additional 2,238 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Nordstrom by 57.7% during 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. 88.73% of the stock is owned by hedge funds and other 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.