Nordstrom (NYSE:JWN) Price Target Raised to $22.00

Nordstrom (NYSE:JWN) had its target price raised by Bank of America from $20.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s price objective suggests a potential downside of 2.74% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Telsey Advisory Group raised their target price on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. Citigroup lifted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, TD Cowen upped their price target on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus target price of $21.29.

Nordstrom Stock Down 8.1 %

JWN stock opened at $22.62 on Wednesday. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The business’s 50-day moving average is $22.85 and its two-hundred day moving average is $22.23. Nordstrom has a fifty-two week low of $14.80 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, analysts forecast that Nordstrom will post 1.91 earnings per share for the current year.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Several institutional investors have recently bought and sold shares of JWN. CANADA LIFE ASSURANCE Co raised its position in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Nordstrom by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after purchasing an additional 760 shares during the period. Stephens Inc. AR increased its position in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the last quarter. Finally, CWM LLC raised its holdings in Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares during the period. 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.