Nordstrom, Inc. (NYSE:JWN) Receives Consensus Rating of “Reduce” from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned an average recommendation of “Reduce” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $22.90.

A number of research analysts have recently issued reports on the stock. StockNews.com started coverage on shares of Nordstrom in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th.

Nordstrom Stock Up 0.1 %

Nordstrom stock opened at $24.45 on Friday. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The stock has a 50 day moving average of $24.29 and a two-hundred day moving average of $23.54. Nordstrom has a twelve month low of $17.21 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. As a group, research analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. acquired a new position in Nordstrom during the fourth quarter worth about $228,000. Michels Family Financial LLC purchased a new position in shares of Nordstrom during the 4th quarter worth approximately $724,000. BCK Capital Management LP purchased a new position in shares of Nordstrom during the 4th quarter worth approximately $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nordstrom by 16.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock worth $8,709,000 after purchasing an additional 50,049 shares during the last quarter. Finally, Towle & Co. purchased a new stake in Nordstrom in the 4th quarter valued at approximately $2,044,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.