Nordstrom (NYSE:JWN – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.
Other research analysts have also recently issued reports about the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Barclays lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, May 31st. Telsey Advisory Group reissued a “market perform” rating and set a $19.00 target price on shares of Nordstrom in a research note on Friday, May 31st. Finally, Citigroup decreased their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nordstrom presently has a consensus rating of “Hold” and an average price target of $17.42.
Read Our Latest Analysis on Nordstrom
Nordstrom Trading Up 1.0 %
Nordstrom (NYSE:JWN – Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Nordstrom will post 1.79 EPS for the current year.
Institutional Trading of Nordstrom
A number of large investors have recently added to or reduced their stakes in JWN. Janney Montgomery Scott LLC increased its position in shares of Nordstrom by 21.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,231 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 2,662 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Nordstrom during the 3rd quarter valued at approximately $45,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Nordstrom during the 3rd quarter valued at approximately $266,000. Envestnet Asset Management Inc. increased its position in shares of Nordstrom by 33.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 233,414 shares of the specialty retailer’s stock valued at $3,487,000 after purchasing an additional 57,948 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Nordstrom by 12.2% during the 3rd quarter. Invesco Ltd. now owns 689,716 shares of the specialty retailer’s stock valued at $10,304,000 after purchasing an additional 75,245 shares during the last quarter. 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.
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