Nordstrom (NYSE:JWN) Stock Price Expected to Rise, Evercore ISI Analyst Says

Nordstrom (NYSE:JWN) had its target price increased by research analysts at Evercore ISI from $22.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s target price indicates a potential downside of 0.46% from the stock’s previous close.

JWN has been the subject of several other reports. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Monday. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Finally, UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.08.

Nordstrom Price Performance

NYSE:JWN traded up $0.10 during mid-day trading on Monday, hitting $24.11. 556,930 shares of the company’s stock traded hands, compared to its average volume of 3,917,157. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The company has a market cap of $3.98 billion, a PE ratio of 15.36 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm’s 50 day simple moving average is $23.41 and its 200 day simple moving average is $22.72.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping 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 business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that Nordstrom will post 1.94 EPS for the current year.

Institutional Trading of Nordstrom

Several large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in shares of Nordstrom by 355.9% in the 3rd 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 period. Point72 Hong Kong Ltd acquired a new position in shares of Nordstrom in the 2nd quarter valued at $71,000. CWM LLC increased its position in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares in the last quarter. Blue Trust Inc. raised its stake in 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 buying an additional 1,404 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 2,227 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

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.