Nordstrom’s (JWN) “Market Perform” Rating Reiterated at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They currently have a $19.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s target price would suggest a potential upside of 1.39% from the stock’s previous close.

JWN has been the topic of a number of other research reports. Citigroup lowered their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their price target on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group boosted their price target on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, Piper Sandler boosted their price target on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.54.

Nordstrom Price Performance

NYSE:JWN opened at $18.74 on Friday. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.41 and a current ratio of 1.02. The stock’s 50-day simple moving average is $19.25 and its 200 day simple moving average is $17.33. The company has a market cap of $3.06 billion, a P/E ratio of 23.43, a P/E/G ratio of 2.03 and a beta of 2.59. Nordstrom has a 52-week low of $12.88 and a 52-week high of $23.53.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, sell-side analysts forecast that Nordstrom will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Nordstrom during the second quarter worth $29,000. Register Financial Advisors LLC bought a new position in shares of Nordstrom in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC lifted its stake in shares of Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 869 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Nordstrom by 315.9% in the 1st quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 1,889 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Nordstrom by 44.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 849 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.