Telsey Advisory Group Reaffirms “Market Perform” Rating for Nordstrom (NYSE:JWN)

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued to investors on Monday,Benzinga reports. They currently have a $24.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s price objective would indicate a potential downside of 0.54% from the company’s previous close.

JWN has been the topic of several other research reports. Evercore ISI raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, November 27th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. StockNews.com initiated coverage on Nordstrom in a research note on Friday, January 10th. They set a “buy” rating for the company. Citigroup increased 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. Finally, Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.08.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.13 on Monday. 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 stock has a market cap of $3.98 billion, a PE ratio of 15.37 and a beta of 2.52. The business has a 50-day simple moving average of $23.46 and a 200-day simple moving average of $22.76.

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. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the company posted $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts expect that Nordstrom will post 1.94 EPS for the current year.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its stake in shares of Nordstrom by 6.7% in the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after acquiring an additional 723 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 760 shares during the period. Stephens Inc. AR increased its position in Nordstrom by 0.5% during the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after purchasing an additional 805 shares during the last quarter. CWM LLC raised its stake in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 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.