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

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

JWN has been the subject of several other reports. Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup raised their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Stock Performance

NYSE:JWN opened at $24.33 on Wednesday. The business’s fifty day moving average is $24.13 and its 200 day moving average is $23.14. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. Research analysts predict that Nordstrom will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently modified their holdings of JWN. Venturi Wealth Management LLC boosted its stake in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the period. 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 valued at $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new stake in Nordstrom in the 4th quarter worth $63,000. Vestcor Inc purchased a new position in shares of Nordstrom in the fourth quarter valued at about $63,000. Finally, Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the period. 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.