Nordstrom (NYSE:JWN – Get Free Report)‘s stock had its “market perform” rating restated by equities researchers at Telsey Advisory Group in a research report issued on Monday,Benzinga reports. They presently have a $24.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s price target would suggest a potential downside of 0.12% from the stock’s current price.
A number of other research analysts also recently issued reports on the company. Citigroup upped their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Bank of America upped their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, StockNews.com assumed coverage on Nordstrom in a research note on Friday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.92.
Read Our Latest Research Report on Nordstrom
Nordstrom Price Performance
Nordstrom (NYSE:JWN – Get Free Report) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company 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 earned $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Nordstrom will post 1.94 EPS for the current year.
Hedge Funds Weigh In On Nordstrom
Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after buying an additional 137,094 shares during the period. American Century Companies Inc. grew its stake in Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the period. Geode Capital Management LLC grew its stake in Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the period. Marshall Wace LLP grew its stake in Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares during the period. 88.73% of the stock is owned by hedge funds and other 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.
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