Nordstrom (NYSE:JWN) Given New $24.00 Price Target at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its price objective decreased by analysts at Telsey Advisory Group from $26.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective points to a potential downside of 0.87% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group raised their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. TD Cowen lifted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. StockNews.com cut Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. Finally, Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.13.

Nordstrom Stock Up 0.2 %

JWN opened at $24.21 on Tuesday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.56. Nordstrom has a one year low of $16.63 and a one year high of $24.99. The company has a fifty day moving average price of $23.21 and a 200-day moving average price of $22.47. 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 (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping 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 business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in shares of Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after buying an additional 11,583 shares during the period. Tidal Investments LLC grew its holdings in Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock worth $396,000 after acquiring an additional 5,690 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after acquiring an additional 31,498 shares during the period. Virtu Financial LLC bought a new position in shares of Nordstrom during the third quarter valued at about $451,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 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.