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

Analysts at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Saturday. The firm set a “buy” rating on the specialty retailer’s stock.

JWN has been the subject of a number of other reports. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Evercore ISI upped their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price 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 report on Monday, December 30th. Finally, Citigroup raised 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. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $22.90.

Nordstrom Stock Down 0.1 %

Shares of NYSE JWN opened at $24.21 on Friday. Nordstrom has a 1 year low of $16.79 and a 1 year high of $24.99. The firm has a 50-day simple moving average of $24.25 and a two-hundred day simple moving average of $23.44. The company has a market cap of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly 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 firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Research analysts anticipate that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC grew its stake in Nordstrom by 355.9% in 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 last quarter. Spire Wealth Management boosted its holdings in shares of Nordstrom by 90.9% in 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 in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Nordstrom in the 4th quarter worth approximately $63,000. Vestcor Inc bought a new position in shares of Nordstrom during the 4th quarter worth approximately $63,000. Finally, Atlas Capital Advisors Inc. lifted its position in Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after acquiring an additional 1,391 shares during the last quarter. 88.73% of the stock is 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.