StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Sunday. The brokerage set a “buy” rating on the specialty retailer’s stock.

A number of other research firms also recently issued reports on JWN. Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Citigroup raised their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays boosted their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.17.

Nordstrom Stock Up 0.1 %

Shares of Nordstrom stock opened at $24.21 on Friday. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. 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 stock has a market cap of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.52. The firm’s 50-day moving average is $23.67 and its two-hundred day moving average is $22.90.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts expect that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. Hennessy Advisors Inc. acquired a new stake in Nordstrom during the fourth quarter worth about $56,026,000. Verition Fund Management LLC raised its stake in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after acquiring an additional 725,803 shares during the period. Axiom Advisory LLC lifted its holdings in shares of Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after acquiring an additional 346,994 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in Nordstrom in the 3rd quarter valued at approximately $6,248,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Nordstrom in the 3rd quarter valued at $6,171,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.