Nordstrom Inc. (JWN) PT Set at $64.00 by Cowen and Company
Nordstrom Inc. (NYSE:JWN) received a $64.00 price objective from equities research analysts at Cowen and Company in a report issued on Friday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s target price suggests a potential upside of 7.47% from the stock’s previous close.
Several other analysts also recently weighed in on JWN. Stifel Nicolaus boosted their price objective on Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Vetr raised Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 target price on the stock in a research note on Tuesday, July 26th. Telsey Advisory Group boosted their target price on Nordstrom from $40.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. Credit Suisse Group AG reissued a “hold” rating and set a $40.00 target price on shares of Nordstrom in a research note on Friday, August 12th. Finally, Royal Bank Of Canada boosted their target price on Nordstrom from $38.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company’s stock. Nordstrom has an average rating of “Hold” and an average price target of $49.16.
Shares of Nordstrom (NYSE:JWN) opened at 59.55 on Friday. The firm’s 50-day moving average is $52.93 and its 200-day moving average is $46.42. The firm has a market cap of $10.31 billion, a P/E ratio of 31.69 and a beta of 1.02. Nordstrom has a 52-week low of $35.01 and a 52-week high of $62.82.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.32. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The firm earned $3.47 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Nordstrom will post $2.73 earnings per share for the current year.
In other Nordstrom news, insider Daniel F. Little sold 5,277 shares of the firm’s 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 completion of the transaction, the insider now owns 68,223 shares in the company, valued at approximately $3,752,265. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $54.00, for a total value of $284,580.00. Following the transaction, the insider now owns 68,216 shares of the company’s stock, valued at approximately $3,683,664. The disclosure for this sale can be found here. Corporate insiders own 7.03% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in JWN. Bank of Montreal Can purchased a new position in Nordstrom during the second quarter valued at $111,916,000. Skandinaviska Enskilda Banken AB publ boosted its position 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 in the last quarter. Vanguard Group Inc. boosted its position 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. Smith Asset Management Group LP purchased a new position in Nordstrom during the third quarter valued at $62,974,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its position 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 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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