Nordstrom (NYSE:JWN) Rating Lowered to “Sell” at Argus

Nordstrom (NYSE:JWN) was downgraded by stock analysts at Argus from a “buy” rating to a “sell” rating in a note issued to investors on Monday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Citigroup upped their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Telsey Advisory Group cut their price objective on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 24th. StockNews.com lowered Nordstrom from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 5th. Bank of America upped their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.13.

Nordstrom Trading Down 0.0 %

Shares of JWN opened at $24.21 on Monday. Nordstrom has a one year low of $16.63 and a one year high of $24.99. The stock has a 50-day moving average price of $23.19 and a 200 day moving average price of $22.53. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a market capitalization of $4.00 billion, a P/E ratio of 15.42 and a beta of 2.56.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating 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 company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the business posted $0.25 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Nordstrom will post 1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares in the last quarter. Franklin Resources Inc. increased its stake in Nordstrom by 29.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock valued at $1,152,000 after buying an additional 11,583 shares during the period. Tidal Investments LLC raised its position in shares of Nordstrom by 47.8% during the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock worth $396,000 after buying an additional 5,690 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after acquiring an additional 31,498 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Nordstrom in the third quarter valued at approximately $451,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.