Nordstrom’s (JWN) Sell Rating Reiterated at Citigroup

Citigroup reissued their sell rating on shares of Nordstrom (NYSE:JWN) in a research note published on Friday, MarketBeat.com reports. Citigroup currently has a $22.00 price target on the specialty retailer’s stock, down from their previous price target of $25.00.

JWN has been the subject of several other reports. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. StockNews.com began coverage on Nordstrom in a research report on Monday, March 31st. They issued a “buy” rating for the company. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Finally, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.80.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $23.33 on Friday. The stock has a market capitalization of $3.85 billion, a PE ratio of 14.86 and a beta of 2.60. Nordstrom has a 52 week low of $17.21 and a 52 week high of $24.99. The stock has a 50 day moving average price of $24.29 and a 200 day moving average price of $23.62. 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 released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently made changes to their positions in JWN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Nordstrom by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock valued at $6,985,000 after acquiring an additional 7,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Nordstrom in the third quarter worth $6,171,000. Point72 Asset Management L.P. raised its stake in Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after purchasing an additional 39,104 shares in the last quarter. Quantinno Capital Management LP lifted its position in Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares during the period. Finally, Whitebox Advisors LLC grew its stake in Nordstrom by 4.3% during the third quarter. Whitebox Advisors LLC now owns 108,957 shares of the specialty retailer’s stock worth $2,450,000 after buying an additional 4,500 shares in the last quarter. 88.73% of the stock is currently owned by 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.