Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report released on Saturday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Other equities analysts also recently issued research reports about the company. Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Barclays increased their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Citigroup reissued a “sell” rating and issued a $22.00 price objective (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and an average target price of $22.80.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $24.54 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom has a 52 week low of $19.45 and a 52 week high of $24.99. The stock has a market cap of $4.10 billion, a PE ratio of 15.63 and a beta of 2.36. The company’s 50-day moving average price is $24.12 and its two-hundred day moving average price is $23.87.

Nordstrom (NYSE:JWN) last posted 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. As a group, sell-side analysts anticipate that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management bought a new stake in shares of Nordstrom in the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its position in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 470 shares during the last quarter. Parallel Advisors LLC boosted its position in Nordstrom by 48.6% during the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock worth $41,000 after acquiring an additional 553 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Nordstrom during the 1st quarter worth approximately $45,000. Finally, Spire Wealth Management boosted its position in Nordstrom by 90.9% during 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. 88.73% of the stock is currently 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.