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

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

A number of other analysts have also commented on the company. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Monday, January 13th. Finally, Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.17.

Nordstrom Price Performance

JWN opened at $24.12 on Friday. The firm’s fifty day moving average price is $23.55 and its two-hundred day moving average price is $22.82. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Nordstrom will post 1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JWN. Janney Montgomery Scott LLC lifted its stake in Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after purchasing an additional 640 shares in the last quarter. Wedmont Private Capital raised its position in shares of Nordstrom by 6.7% in the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after buying an additional 723 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Nordstrom by 7.3% during the third 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 during the period. Stephens Inc. AR grew its position in Nordstrom by 0.5% during the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after buying an additional 805 shares in the last quarter. Finally, CWM LLC grew its position in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after buying an additional 810 shares in the last quarter. Hedge funds and other institutional investors 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.