Nordstrom (NYSE:JWN) Given New $24.00 Price Target at Evercore ISI

Nordstrom (NYSE:JWN) had its price objective hoisted by equities research analysts at Evercore ISI from $22.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price suggests a potential downside of 0.46% from the stock’s previous close.

JWN has been the topic of several other reports. Bank of America upped their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Citigroup lifted their price objective 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. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Monday. Finally, StockNews.com assumed coverage on Nordstrom in a research note on Friday. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.08.

Nordstrom Stock Up 0.4 %

Shares of JWN traded up $0.10 during trading hours on Monday, hitting $24.11. The company had a trading volume of 556,930 shares, compared to its average volume of 3,917,157. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The firm has a fifty day moving average price of $23.41 and a 200-day moving average price of $22.72. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52. 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 (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Nordstrom will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC increased its position in shares of 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 purchasing an additional 725,803 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares during the period. Marshall Wace LLP lifted its stake in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares during the period. Axiom Advisory LLC boosted its holdings in shares of Nordstrom by 46.0% in the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after acquiring an additional 346,994 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in Nordstrom during the third quarter worth about $6,248,000. Hedge funds and other 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.