Nordstrom’s (JWN) Market Perform Rating Reaffirmed at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating restated by analysts at Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $24.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s target price indicates a potential downside of 1.40% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. StockNews.com assumed coverage on Nordstrom in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Citigroup boosted their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, Barclays boosted their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three research 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Trading Up 0.1 %

Shares of NYSE:JWN opened at $24.34 on Tuesday. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The stock has a market cap of $4.02 billion, a PE ratio of 15.50 and a beta of 2.51. The business has a 50 day moving average of $24.22 and a 200-day moving average of $23.22. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JWN. Pentwater Capital Management LP acquired a new position in shares of Nordstrom during the fourth quarter worth $61,582,000. Hennessy Advisors Inc. acquired a new position in shares of Nordstrom during the fourth quarter worth $56,026,000. Norges Bank acquired a new position in shares of Nordstrom during the fourth quarter worth $33,480,000. Great Lakes Advisors LLC acquired a new position in shares of Nordstrom during the fourth quarter worth $21,736,000. Finally, Verition Fund Management LLC increased its holdings in shares of Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares in 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.