Nordstrom (NYSE:JWN) Stock Price Expected to Rise, Barclays Analyst Says

Nordstrom (NYSE:JWN) had its target price increased by Barclays from $23.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Barclays‘s price target would indicate a potential downside of 0.60% from the stock’s current price.

Several other research analysts also recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a report on Monday. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Citigroup raised their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, StockNews.com started coverage on shares of Nordstrom in a report on Friday, January 10th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Performance

NYSE:JWN traded up $0.04 during mid-day trading on Thursday, hitting $24.15. 785,591 shares of the stock were exchanged, compared to its average volume of 3,671,046. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm’s 50-day simple moving average is $23.49 and its 200 day simple moving average is $22.77. Nordstrom has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.38 and a beta of 2.52.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, equities analysts anticipate that Nordstrom will post 1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. State of New Jersey Common Pension Fund D bought a new position in Nordstrom during the second quarter worth about $1,835,000. DekaBank Deutsche Girozentrale grew its stake in Nordstrom by 70.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 2,227 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Nordstrom by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 272,922 shares of the specialty retailer’s stock valued at $5,791,000 after acquiring an additional 6,099 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after acquiring an additional 137,094 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Nordstrom in the second quarter worth $456,000. 88.73% of the stock is currently owned by institutional investors.

About Nordstrom

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.