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

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

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Performance

NYSE:JWN opened at $24.21 on Friday. The firm’s fifty day moving average price is $24.25 and its 200 day moving average price is $23.42. Nordstrom has a 1-year low of $16.79 and a 1-year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, sell-side analysts expect that Nordstrom will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the period. Spire Wealth Management raised its position in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Nordstrom in the 4th quarter valued at $63,000. Vestcor Inc acquired a new stake in shares of Nordstrom in the 4th quarter valued at $63,000. Finally, Atlas Capital Advisors Inc. increased its stake in shares of Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after buying an additional 1,391 shares during the period. Institutional investors and hedge funds 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.