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

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

A number of other research analysts also recently weighed in on JWN. Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.33 on Wednesday. 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 stock has a fifty day moving average of $24.13 and a 200 day moving average of $23.14. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS 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 firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its stake 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 worth $29,000 after buying an additional 993 shares in the last quarter. Spire Wealth Management increased its position in shares of Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom in the 4th quarter worth approximately $63,000. Vestcor Inc bought a new position in Nordstrom in the 4th quarter valued at approximately $63,000. Finally, CWM LLC lifted its position in 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 acquiring an additional 810 shares in the last quarter. 88.73% of the stock is currently owned by 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.