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

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Sunday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other research analysts have also commented on the stock. Evercore ISI boosted their price objective 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. Barclays boosted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Finally, Bank of America boosted their price objective 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nordstrom has an average rating of “Hold” and a consensus price target of $22.90.

Nordstrom Price Performance

Shares of JWN opened at $24.23 on Friday. The company has a 50 day moving average price of $24.26 and a 200-day moving average price of $23.50. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The stock has a market capitalization of $4.00 billion, a PE ratio of 15.44 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Equities analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in shares of Nordstrom by 49.3% in the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after acquiring an additional 47,923 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after acquiring an additional 208,193 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after acquiring an additional 89,114 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Nordstrom in the fourth quarter worth $3,767,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after acquiring an additional 39,104 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.