Nordstrom (NYSE:JWN) Now Covered by StockNews.com

Research analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note issued on Thursday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other research analysts have also recently issued reports on the company. UBS Group boosted their target price on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. Evercore ISI boosted their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, November 27th. Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Telsey Advisory Group cut their price target on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 24th. Finally, Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and an average price target of $21.13.

Nordstrom Price Performance

JWN opened at $24.17 on Thursday. The company has a fifty day moving average price of $23.30 and a two-hundred day moving average price of $22.61. The firm has a market capitalization of $3.99 billion, a PE ratio of 15.40 and a beta of 2.56. Nordstrom has a 52 week low of $16.63 and a 52 week high of $24.99. 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 issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts anticipate that Nordstrom will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On Nordstrom

Large investors have recently modified their holdings of the business. Venturi Wealth Management LLC increased its position in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the last quarter. Rothschild Investment LLC acquired a new position in Nordstrom during the second quarter valued at approximately $39,000. Point72 Hong Kong Ltd bought a new position in Nordstrom in the second quarter valued at approximately $71,000. CWM LLC increased its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% during the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.