Nordstrom (NYSE:JWN) Given New $14.50 Price Target at UBS Group

Nordstrom (NYSE:JWN) had its price objective boosted by stock analysts at UBS Group from $13.00 to $14.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the specialty retailer’s stock. UBS Group’s price target would suggest a potential downside of 34.09% from the stock’s current price.

JWN has been the topic of several other reports. Telsey Advisory Group boosted their price target on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI boosted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average price target of $20.65.

Nordstrom Trading Down 10.6 %

JWN stock traded down $2.62 during midday trading on Wednesday, reaching $22.00. 3,828,372 shares of the company’s stock traded hands, compared to its average volume of 3,045,665. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom has a fifty-two week low of $14.80 and a fifty-two week high of $24.99. The business has a 50-day moving average price of $22.86 and a two-hundred day moving average price of $22.22. The company has a market capitalization of $3.61 billion, a P/E ratio of 12.87 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Nordstrom will post 1.91 EPS for the current fiscal year.

Insider Activity at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC raised its stake in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Nordstrom in the second quarter worth about $39,000. Blue Trust Inc. grew its position in Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Nordstrom during the 2nd quarter valued at about $71,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.