Nordstrom Inc. (NYSE:JWN) had its price target boosted by analysts at Maxim Group from $54.00 to $61.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price objective points to a potential upside of 8.87% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank AG increased their target price on shares of Nordstrom from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Stifel Nicolaus increased their price target on shares of Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Vetr upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 price target for the company in a research note on Tuesday, July 26th. Guggenheim initiated coverage on shares of Nordstrom in a research note on Friday, September 30th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Tuesday, July 26th. Seven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.84.

Analyst Recommendations for Nordstrom (NYSE:JWN)

Shares of Nordstrom (NYSE:JWN) opened at 56.03 on Friday. The company has a 50-day moving average of $52.70 and a 200-day moving average of $46.38. Nordstrom has a 1-year low of $35.01 and a 1-year high of $59.37. The company has a market cap of $9.72 billion, a PE ratio of 23.87 and a beta of 1.02.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.32. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Nordstrom will post $2.73 EPS for the current year.

In related news, insider Daniel F. Little sold 12,770 shares of Nordstrom stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $53.00, for a total transaction of $676,810.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel F. Little sold 5,277 shares of Nordstrom stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $55.00, for a total transaction of $290,235.00. Following the sale, the insider now owns 68,223 shares in the company, valued at $3,752,265. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of JWN. Vanguard Group Inc. increased its stake in Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock valued at $526,621,000 after buying an additional 1,945,151 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock valued at $298,811,000 after buying an additional 414,860 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nordstrom by 26.4% in the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the company’s stock valued at $222,779,000 after buying an additional 897,203 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock valued at $146,919,000 after buying an additional 160,682 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock valued at $136,755,000 after buying an additional 929,597 shares in the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.

About Nordstrom

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

5 Day Chart for NYSE:JWN

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