Nordstrom (NYSE:JWN) Given New $14.50 Price Target at UBS Group

Nordstrom (NYSE:JWN) had its price objective raised by research analysts at UBS Group from $13.00 to $14.50 in a report issued on Wednesday,Benzinga reports. The firm presently has a “sell” rating on the specialty retailer’s stock. UBS Group’s target price would indicate a potential downside of 34.09% from the company’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Citigroup raised their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their price target 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, Evercore ISI boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nordstrom presently has an average rating of “Hold” and an average target price of $20.65.

Nordstrom Stock Down 10.6 %

Nordstrom stock traded down $2.62 during midday trading on Wednesday, reaching $22.00. The company’s stock had a trading volume of 3,828,372 shares, compared to its average volume of 3,045,665. The company has a market cap of $3.61 billion, a P/E ratio of 12.87 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The business has a 50-day simple moving average of $22.86 and a 200-day simple moving average of $22.22. Nordstrom has a fifty-two week low of $14.80 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion during 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%. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, research analysts expect that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC grew its holdings in Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after buying an additional 725,803 shares during the period. American Century Companies Inc. grew its holdings in Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares during the period. Vanguard Group Inc. grew its holdings in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares during the period. Marshall Wace LLP increased its position in Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new position in Nordstrom during the second quarter worth approximately $7,783,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.