Nordstrom (NYSE:JWN) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on JWN. Bank of America upped their price target 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. Telsey Advisory Group decreased their target price on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 24th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Four investment 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. According to data from MarketBeat, Nordstrom has an average rating of “Hold” and a consensus price target of $21.13.

Nordstrom Trading Down 0.0 %

Shares of Nordstrom stock opened at $24.11 on Friday. Nordstrom has a twelve month low of $16.78 and a twelve month high of $24.99. 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 business has a 50-day moving average price of $23.38 and a 200-day moving average price of $22.68. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts anticipate that Nordstrom will post 1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several hedge funds have recently made changes to their positions in JWN. Texas Permanent School Fund Corp lifted its stake in shares of Nordstrom by 13.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 96,618 shares of the specialty retailer’s stock worth $2,050,000 after purchasing an additional 11,577 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Nordstrom during the second quarter valued at about $1,835,000. American Century Companies Inc. boosted its holdings in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after buying an additional 661,769 shares in the last quarter. Qsemble Capital Management LP grew its position in shares of Nordstrom by 62.1% in the 2nd quarter. Qsemble Capital Management LP now owns 35,601 shares of the specialty retailer’s stock worth $755,000 after buying an additional 13,639 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 2,227 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.