Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Monday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other brokerages have also issued reports on JWN. Evercore ISI raised their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Finally, Barclays raised 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 research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.90.

Nordstrom Stock Up 0.0 %

NYSE JWN opened at $24.47 on Monday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a 52 week low of $17.21 and a 52 week high of $24.99. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60. The company has a fifty day moving average of $24.30 and a two-hundred day moving average of $23.59.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 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 during the quarter, compared to analysts’ expectations of $4.32 billion. On average, analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of hedge funds have recently bought and sold shares of JWN. Spire Wealth Management raised its position in shares of Nordstrom by 90.9% in the 4th 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 in the last quarter. Wolverine Asset Management LLC bought a new position in Nordstrom in the fourth quarter worth about $63,000. Vestcor Inc purchased a new stake in shares of Nordstrom during the fourth quarter valued at about $63,000. Atlas Capital Advisors Inc. lifted its position in shares of Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after buying an additional 1,391 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,287 shares in the last quarter. 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.