Nordstrom Inc. (JWN) Stock Rating Reaffirmed by KeyCorp
Nordstrom Inc. (NYSE:JWN)‘s stock had its “buy” rating reissued by investment analysts at KeyCorp in a research report issued on Friday.
Several other research analysts also recently commented on the stock. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $39.00 price target on shares of Nordstrom in a research note on Monday, August 1st. Vetr raised shares of Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 price target on the stock in a research note on Thursday, August 25th. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 26th. Maxim Group raised their price target on shares of Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday. Finally, 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 on the stock. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.16.
Nordstrom (NYSE:JWN) opened at 59.55 on Friday. Nordstrom has a 52 week low of $35.01 and a 52 week high of $62.82. The stock has a 50 day moving average of $52.93 and a 200 day moving average of $46.42. The company has a market cap of $10.31 billion, a P/E ratio of 31.69 and a beta of 1.02.
Nordstrom (NYSE:JWN) last posted its quarterly 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. The company 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%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts expect 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 company’s stock in a transaction on Friday, October 7th. The shares were 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 directly owns 68,223 shares in the company, valued at $3,752,265. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $54.00, for a total transaction of $284,580.00. Following the transaction, the insider now owns 68,216 shares of the company’s stock, valued at $3,683,664. The disclosure for this sale can be found here. Company insiders own 7.03% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Nordstrom by 5.6% in the second quarter. Pacer Advisors Inc. now owns 2,632 shares of the company’s stock worth $100,000 after buying an additional 140 shares in the last quarter. Evercore Wealth Management LLC boosted its position in Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock worth $106,000 after buying an additional 231 shares in the last quarter. WFG Advisors LP boosted its position in Nordstrom by 51.7% in the second quarter. WFG Advisors LP now owns 2,906 shares of the company’s stock worth $111,000 after buying an additional 991 shares in the last quarter. Blue Chip Partners Inc. bought a new position in Nordstrom during the second quarter worth $114,000. Finally, Gemmer Asset Management LLC boosted its position in Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock worth $115,000 after buying an additional 26 shares in the last quarter. 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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