Nordstrom (NYSE:JWN) Rating Lowered to Hold at StockNews.com

Nordstrom (NYSE:JWN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research firms also recently weighed in on JWN. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Telsey Advisory Group upped their price target on shares of Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Barclays lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. Bank of America upped their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, May 31st. Finally, Evercore ISI boosted their price target on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average price target of $17.75.

Nordstrom Price Performance

Shares of JWN stock opened at $22.31 on Wednesday. The company has a market cap of $3.65 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.62 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.03. The business has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $20.23.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. On average, sell-side analysts forecast that Nordstrom will post 1.79 EPS for the current fiscal year.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new stake in Nordstrom in the 1st quarter valued at about $30,000. Atlas Capital Advisors LLC boosted its position in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 869 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Nordstrom during the 2nd quarter valued at $39,000. Finally, Spire Wealth Management raised its stake in shares of Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,100 shares during the period. 88.73% of the stock is owned by hedge funds and other 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.