Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a research report released on Monday. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other equities analysts have also issued reports on JWN. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Barclays boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Evercore ISI raised their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.0 %

NYSE JWN opened at $24.47 on Monday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 15.59 and a beta of 2.60. Nordstrom has a twelve month low of $17.21 and a twelve month high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The business’s fifty day moving average is $24.31 and its 200 day moving average is $23.61.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during 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, sell-side analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Trading of Nordstrom

A number of large investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. purchased a new stake in Nordstrom in the fourth quarter worth $228,000. Michels Family Financial LLC purchased a new stake in Nordstrom in the 4th quarter worth about $724,000. BCK Capital Management LP bought a new stake in Nordstrom in the 4th quarter valued at about $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nordstrom by 16.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock valued at $8,709,000 after purchasing an additional 50,049 shares during the last quarter. Finally, Towle & Co. bought a new position in Nordstrom during the fourth quarter worth about $2,044,000. Hedge funds and other institutional investors 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.