Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

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

A number of other brokerages have also commented on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Citigroup reissued a “sell” rating and issued a $22.00 price target (down from $25.00) on shares of Nordstrom in a report on Friday. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, Barclays increased their target price 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. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.80.

Nordstrom Stock Performance

NYSE JWN opened at $23.45 on Tuesday. 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 company has a fifty day moving average price of $24.28 and a 200-day moving average price of $23.64. Nordstrom has a 1 year low of $17.21 and a 1 year high of $24.99. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 14.93 and a beta of 2.31.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. As a group, equities research analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pentwater Capital Management LP purchased a new stake in shares of Nordstrom during the fourth quarter worth $61,582,000. Hennessy Advisors Inc. bought a new stake in shares of Nordstrom during the 4th quarter valued at $56,026,000. Norges Bank purchased a new stake in Nordstrom during the 4th quarter worth about $33,480,000. Great Lakes Advisors LLC bought a new position in Nordstrom in the 4th quarter worth about $21,736,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Nordstrom by 453.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 667,710 shares of the specialty retailer’s stock valued at $16,125,000 after buying an additional 547,147 shares in the last quarter. 88.73% of the stock is owned by 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.