Nordstrom, Inc. (NYSE:JWN) Given Average Recommendation of “Reduce” by Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned an average rating of “Reduce” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $22.90.

A number of research firms have recently weighed in on JWN. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, StockNews.com initiated coverage on shares of Nordstrom in a report on Sunday, March 23rd. They set a “buy” rating for the company.

Institutional Trading of Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP grew its stake in Nordstrom by 49.3% during the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after buying an additional 47,923 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Nordstrom in the fourth quarter valued at approximately $3,767,000. Charles Schwab Investment Management Inc. grew its position in shares of Nordstrom by 17.1% during 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 acquiring an additional 208,193 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after acquiring an additional 89,114 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after acquiring an additional 39,104 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $24.45 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60. The business has a 50-day moving average of $24.29 and a 200 day moving average of $23.54. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share 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 firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. As a group, sell-side analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

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.