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

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

Other equities analysts have also issued research reports about the company. Evercore ISI raised their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Stock Up 0.1 %

Shares of Nordstrom stock opened at $24.18 on Friday. The company’s fifty day simple moving average is $23.67 and its two-hundred day simple moving average is $22.89. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.99 billion, a P/E ratio of 15.40 and a beta of 2.52.

Nordstrom (NYSE:JWN) last issued 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the business posted $0.25 earnings per share. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that Nordstrom will post 1.97 EPS for the current year.

Institutional Trading of Nordstrom

A number of institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in Nordstrom by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after purchasing an additional 640 shares during the period. Wedmont Private Capital lifted its holdings in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock valued at $278,000 after buying an additional 723 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 760 shares during the period. Stephens Inc. AR increased its position in Nordstrom by 0.5% during the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares during the last quarter. Finally, CWM LLC boosted its position in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during 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.