Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

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

A number of other equities analysts have also weighed in on the stock. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. UBS Group increased their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday, November 27th. Telsey Advisory Group reduced their target price on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, December 24th. Evercore ISI increased their price target on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Finally, Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus price target of $21.92.

Nordstrom Price Performance

NYSE:JWN opened at $24.03 on Friday. The business’s 50-day simple moving average is $23.41 and its two-hundred day simple moving average is $22.71. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The stock has a market cap of $3.97 billion, a PE ratio of 15.31 and a beta of 2.52. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts forecast that Nordstrom will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 760 shares in the last quarter. Stephens Inc. AR raised its stake in shares of 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 in the last quarter. CWM LLC boosted its holdings in shares of Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the period. Venturi Wealth Management LLC grew its stake in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in Nordstrom by 9.1% during the 3rd quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.