Nordstrom (NYSE:JWN) Rating Lowered to Sector Weight at KeyCorp

Nordstrom (NYSE:JWN) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Thursday, MarketBeat.com reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. TD Cowen raised their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Bank of America upped their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Telsey Advisory Group boosted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.23.

Nordstrom Stock Down 2.5 %

Nordstrom stock opened at $22.64 on Thursday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a one year low of $12.88 and a one year high of $24.03. The company has a 50-day simple moving average of $22.17 and a 200-day simple moving average of $21.04. The firm has a market capitalization of $3.70 billion, a P/E ratio of 12.37 and a beta of 2.61.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, equities analysts expect that Nordstrom will post 1.9 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

Several institutional investors and hedge funds have recently bought and sold shares of JWN. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares during the period. State of Michigan Retirement System boosted its stake in shares of Nordstrom by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after buying an additional 600 shares during the period. Personal CFO Solutions LLC grew its holdings in shares of Nordstrom by 5.7% during the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 659 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Institutional investors and hedge funds 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.