Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research note released on Monday. The firm issued a buy rating on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on JWN. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Barclays lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.90.

Nordstrom Stock Up 0.0 %

Shares of NYSE JWN opened at $24.47 on Monday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.04 billion, a P/E ratio of 15.59 and a beta of 2.60. Nordstrom has a 52 week low of $17.21 and a 52 week high of $24.99. The business has a 50-day simple moving average of $24.31 and a two-hundred day simple moving average of $23.61.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Research analysts anticipate 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 bought and sold shares of JWN. Spire Wealth Management grew its holdings in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom in the fourth quarter worth about $63,000. Vestcor Inc purchased a new position in Nordstrom during the 4th quarter valued at about $63,000. Atlas Capital Advisors Inc. lifted its holdings in Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after buying an additional 1,391 shares during the period. Finally, KBC Group NV lifted its holdings in Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after buying an additional 1,287 shares during the period. 88.73% of the stock is currently owned by hedge funds and other 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.