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

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating restated 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 0.12% from the stock’s previous close.

A number of other brokerages have also recently commented on JWN. Evercore ISI increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. 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. Finally, StockNews.com assumed coverage on shares of Nordstrom in a research note on Friday. They set 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.92.

Nordstrom Stock Down 0.2 %

Nordstrom stock opened at $24.03 on Monday. The company has a market cap of $3.97 billion, a P/E ratio of 15.31 and a beta of 2.52. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a fifty day simple moving average of $23.41 and a 200 day simple moving average of $22.72. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS 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 1.57% and a negative return on equity of 18.04%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. Dimensional Fund Advisors LP increased its holdings in Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after buying an additional 137,094 shares during the period. American Century Companies Inc. increased its holdings in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after buying an additional 661,769 shares during the period. Geode Capital Management LLC grew its holdings in shares of Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares during the last quarter. Marshall Wace LLP lifted its stake in Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after acquiring an additional 208,193 shares during the last quarter. Institutional investors and hedge funds 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.