Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Sunday. The firm issued a buy rating on the specialty retailer’s stock.

Several other brokerages also recently issued reports on JWN. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Bank of America upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, 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 report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Stock Performance

Shares of NYSE:JWN opened at $24.40 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 business’s fifty day moving average price is $24.27 and its two-hundred day moving average price is $23.53. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 15.54 and a beta of 2.60.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. As a group, analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caprock Group LLC lifted its stake in Nordstrom by 9.1% in the third quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 1,000 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Nordstrom in the 3rd quarter valued at approximately $212,000. Charles Schwab Investment Management Inc. raised its position in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after acquiring an additional 208,193 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Nordstrom by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock worth $6,985,000 after acquiring an additional 7,139 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the period. 88.73% of the stock is currently 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.