Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the specialty retailer’s stock.

Other equities analysts have also issued reports about the stock. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Tuesday. Citigroup upped their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Barclays boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.17.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.34 on Thursday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 15.50 and a beta of 2.51. Nordstrom has a 52-week low of $16.78 and a 52-week 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 company’s 50 day moving average is $24.22 and its 200 day moving average is $23.22.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that Nordstrom will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

Several institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares in the last quarter. Spire Wealth Management raised its position in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,000 shares during the period. Wolverine Asset Management LLC purchased a new position in Nordstrom during the fourth quarter valued at $63,000. Vestcor Inc purchased a new position in Nordstrom during the fourth quarter valued at $63,000. Finally, Blue Trust Inc. grew its position in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,404 shares during the period. 88.73% of the stock is owned by hedge funds and other 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.