Nordstrom (NYSE:JWN) PT Lowered to $27.00 at Citigroup

Nordstrom (NYSE:JWN) had its target price lowered by Citigroup from $31.00 to $27.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

JWN has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft cut their price target on Nordstrom from $40.00 to $37.00 and set a hold rating for the company in a research note on Wednesday, August 25th. KeyCorp reissued a buy rating and set a $45.00 price objective on shares of Nordstrom in a report on Wednesday, August 25th. Morgan Stanley lowered Nordstrom from an equal weight rating to an underweight rating and lowered their price objective for the company from $36.00 to $27.00 in a report on Wednesday, August 25th. Credit Suisse Group lowered their price objective on Nordstrom from $39.00 to $34.00 and set a neutral rating on the stock in a report on Wednesday, August 25th. Finally, Jefferies Financial Group lowered Nordstrom from a buy rating to a hold rating and lowered their price objective for the company from $48.00 to $30.00 in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $30.88.

JWN opened at $22.66 on Wednesday. Nordstrom has a fifty-two week low of $22.35 and a fifty-two week high of $46.45. The business has a 50-day moving average of $29.58 and a 200-day moving average of $32.47. The company has a debt-to-equity ratio of 10.63, a current ratio of 0.90 and a quick ratio of 0.33. The company has a market capitalization of $3.60 billion, a PE ratio of -2,266.00, a price-to-earnings-growth ratio of 3.74 and a beta of 2.37.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Monday, November 22nd. The specialty retailer reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business earned $0.22 earnings per share. Nordstrom’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts expect that Nordstrom will post 1.46 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Walled Lake Planning & Wealth Management LLC acquired a new stake in Nordstrom in the 2nd quarter valued at approximately $29,000. Mine & Arao Wealth Creation & Management LLC. lifted its position in shares of Nordstrom by 293.3% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,180 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 880 shares during the period. Captrust Financial Advisors lifted its position in shares of Nordstrom by 68.4% in the 1st quarter. Captrust Financial Advisors now owns 1,197 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 486 shares during the period. Kozak & Associates Inc. bought a new stake in shares of Nordstrom in the 3rd quarter worth approximately $45,000. Finally, TCTC Holdings LLC bought a new stake in shares of Nordstrom in the 3rd quarter worth approximately $48,000. 59.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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