Nordstrom’s (JWN) “Sell” Rating Reiterated at Citigroup

Citigroup restated their sell rating on shares of Nordstrom (NYSE:JWN) in a research note released on Friday morning, Marketbeat.com reports. Citigroup currently has a $22.00 price target on the specialty retailer’s stock, down from their prior price target of $25.00.

Several other equities analysts have also commented on the stock. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Barclays boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Finally, Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Price Performance

JWN opened at $23.33 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company’s 50-day moving average price is $24.29 and its 200 day moving average price is $23.63. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 14.86 and a beta of 2.31.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. As a group, sell-side analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of hedge funds and other institutional investors have recently made changes to their positions in JWN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Nordstrom by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock worth $6,985,000 after buying an additional 7,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Nordstrom during the third quarter worth $6,171,000. Point72 Asset Management L.P. lifted its holdings in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after purchasing an additional 39,104 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after purchasing an additional 47,923 shares during the period. Finally, Whitebox Advisors LLC increased its stake in Nordstrom by 4.3% in the 3rd quarter. Whitebox Advisors LLC now owns 108,957 shares of the specialty retailer’s stock worth $2,450,000 after purchasing an additional 4,500 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.