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.
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.
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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