Telsey Advisory Group Issues Pessimistic Forecast for Nordstrom (NYSE:JWN) Stock Price

Nordstrom (NYSE:JWN) had its price objective decreased by equities researchers at Telsey Advisory Group from $26.00 to $24.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential downside of 0.87% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. TD Cowen raised their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. BMO Capital Markets increased their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $21.13.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.21 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm’s 50-day simple moving average is $23.21 and its 200 day simple moving average is $22.47. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.56. Nordstrom has a fifty-two week low of $16.63 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last posted its earnings results 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. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC raised its stake in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC bought a new stake in shares of Nordstrom during the 2nd quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new stake in Nordstrom during the 2nd quarter worth about $71,000. Finally, CWM LLC boosted its stake in Nordstrom by 28.7% in the 3rd 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 period. 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.