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

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Sunday. The brokerage issued a buy rating on the specialty retailer’s stock.

Other equities analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $24.23 on Friday. The company’s fifty day moving average price is $24.26 and its 200 day moving average price is $23.50. Nordstrom has a 1 year low of $17.21 and a 1 year high of $24.99. The company has a market capitalization of $4.00 billion, a PE ratio of 15.44 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. On average, research analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its stake in Nordstrom by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after acquiring an additional 512 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in Nordstrom by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 558 shares during the last quarter. Amalgamated Bank lifted its stake in Nordstrom by 1.4% in the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after acquiring an additional 617 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Nordstrom by 1.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after acquiring an additional 640 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after buying an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.