Nordstrom (NYSE:JWN) Downgraded by StockNews.com to “Buy”

Nordstrom (NYSE:JWN) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

A number of other brokerages have also recently weighed in on JWN. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. UBS Group lifted their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. Evercore ISI lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. Finally, Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.29.

Nordstrom Price Performance

JWN stock opened at $23.99 on Thursday. The business has a fifty day moving average of $22.88 and a two-hundred day moving average of $22.29. 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 stock has a market cap of $3.94 billion, a price-to-earnings ratio of 15.28 and a beta of 2.56. Nordstrom has a 52-week low of $15.08 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data 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. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Nordstrom will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nordstrom

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