StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

Analysts at StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a report released on Thursday. The firm set a “buy” rating on the specialty retailer’s stock.

Other analysts have also issued reports about the stock. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. UBS Group upped their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. Evercore ISI raised 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, November 27th. Bank of America boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Finally, Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.13.

Nordstrom Stock Performance

NYSE:JWN opened at $24.17 on Thursday. The firm’s 50-day moving average is $23.30 and its 200-day moving average is $22.61. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 15.40 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a 52-week low of $16.63 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Equities research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its holdings in shares of Nordstrom by 355.9% in the third 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 in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Nordstrom in the 2nd quarter valued at $39,000. Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom during the second quarter worth $71,000. Blue Trust Inc. raised its position in shares of Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after acquiring an additional 1,404 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the period. 88.73% of the stock is 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.