Nordstrom, Inc. (NYSE:JWN) Receives $22.90 Average PT from Brokerages

Nordstrom, Inc. (NYSE:JWN) has earned an average rating of “Reduce” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $22.90.

A number of research analysts have weighed in on JWN shares. StockNews.com started coverage on shares of Nordstrom in a research note on Sunday. They issued a “buy” rating on the stock. Barclays raised their price target 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. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Evercore ISI raised their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th.

Institutional Trading of Nordstrom

Large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management increased its holdings in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in Nordstrom during the fourth quarter worth about $63,000. Vestcor Inc purchased a new stake in Nordstrom during the fourth quarter worth about $63,000. Atlas Capital Advisors Inc. increased its holdings in Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after buying an additional 1,391 shares during the last quarter. Finally, KBC Group NV increased its holdings in Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after buying an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Down 0.3 %

Nordstrom stock opened at $24.23 on Friday. Nordstrom has a 1-year low of $17.21 and a 1-year high of $24.99. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.44 and a beta of 2.60. The firm’s fifty day moving average price is $24.26 and its two-hundred day moving average price is $23.50. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating 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 firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. On average, equities research analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

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.