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

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

A number of other equities research analysts have also commented on JWN. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the company from $14.50 to $24.00 in a report on Friday, January 10th. Evercore ISI increased their price objective 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. Finally, Bank of America upped their price target on 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, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Nordstrom currently has an average rating of “Hold” and an average price target of $22.90.

Nordstrom Trading Up 0.1 %

NYSE JWN opened at $24.40 on Friday. Nordstrom has a one year low of $17.21 and a one year high of $24.99. 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 firm has a market cap of $4.03 billion, a P/E ratio of 15.54 and a beta of 2.60. The stock’s 50-day moving average is $24.27 and its 200-day moving average is $23.53.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Sell-side analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JWN. Retirement Systems of Alabama grew its holdings in Nordstrom by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the period. Freestone Capital Holdings LLC lifted its position in shares of Nordstrom by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock valued at $465,000 after buying an additional 558 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Nordstrom by 1.4% during the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after acquiring an additional 617 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after acquiring an additional 640 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after acquiring an additional 723 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

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.