Nordstrom Inc. (JWN) PT Set at $62.00 by Stifel Nicolaus
Nordstrom Inc. (NYSE:JWN) has been given a $62.00 price target by Stifel Nicolaus in a research note issued to investors on Friday. The brokerage currently has a a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 4.11% from the company’s previous close.
Several other analysts also recently commented on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and set a $39.00 target price on shares of Nordstrom in a report on Monday, August 1st. Vetr upgraded shares of Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 target price on the stock in a report on Thursday, August 25th. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a report on Tuesday, July 26th. Maxim Group raised their target price on shares of Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday. Finally, Guggenheim initiated coverage on shares of Nordstrom in a report on Friday, September 30th. They set a “buy” rating and a $60.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $49.16.
Nordstrom (NYSE:JWN) opened at 59.55 on Friday. The stock has a market cap of $10.31 billion, a PE ratio of 31.69 and a beta of 1.02. Nordstrom has a 1-year low of $35.01 and a 1-year high of $62.82. The stock has a 50 day moving average price of $52.93 and a 200 day moving average price of $46.42.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.32. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. Nordstrom’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. On average, analysts predict that Nordstrom will post $2.73 EPS for the current fiscal year.
In other news, insider Daniel F. Little sold 12,770 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $53.00, for a total transaction of $676,810.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel F. Little sold 5,270 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $54.00, for a total value of $284,580.00. Following the sale, the insider now owns 68,216 shares in the company, valued at $3,683,664. The disclosure for this sale can be found here. Insiders own 7.03% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Nordstrom during the second quarter valued at $111,916,000. Skandinaviska Enskilda Banken AB publ boosted its stake in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the company’s stock valued at $141,701,000 after buying an additional 2,718,233 shares during the period. Vanguard Group Inc. boosted 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 during the period. Smith Asset Management Group LP purchased a new stake in Nordstrom during the third quarter valued at $62,974,000. Finally, Hotchkis & Wiley Capital Management LLC boosted 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 during the period. Institutional investors own 66.50% of the company’s stock.
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.
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