Nordstrom Inc. (JWN) Rating Reiterated by BMO Capital Markets
Nordstrom Inc. (NYSE:JWN)‘s stock had its “hold” rating reaffirmed by BMO Capital Markets in a research report issued on Monday.
Several other research firms also recently issued reports on JWN. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Monday. Stifel Nicolaus set a $62.00 target price on Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Maxim Group lifted their target price on Nordstrom from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, November 11th. KeyCorp reaffirmed a “buy” rating on shares of Nordstrom in a research report on Friday, November 11th. Finally, Telsey Advisory Group lifted their target price on Nordstrom from $53.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, November 11th. Seven equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.16.
Nordstrom (NYSE:JWN) traded up 0.022% during trading on Monday, reaching $58.313. The company’s stock had a trading volume of 380,351 shares. Nordstrom has a 52-week low of $35.01 and a 52-week high of $59.37. The stock has a market cap of $10.10 billion, a P/E ratio of 31.034 and a beta of 1.02. The firm’s 50-day moving average is $52.93 and its 200-day moving average is $46.42.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) 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 had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Nordstrom will post $2.96 EPS for the current year.
In related news, insider Daniel F. Little sold 5,270 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.00, for a total value of $274,040.00. Following the sale, the insider now owns 68,088 shares of the company’s stock, valued at $3,540,576. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Blake W. Nordstrom sold 42,847 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $60.00, for a total transaction of $2,570,820.00. The disclosure for this sale can be found here. Insiders own 7.03% of the company’s stock.
Several hedge funds have recently modified their holdings of JWN. Nuveen Asset Management LLC boosted its stake in shares of Nordstrom by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 21,013 shares of the company’s stock worth $1,202,000 after buying an additional 646 shares during the period. National Pension Service boosted its stake in shares of Nordstrom by 4.4% in the first quarter. National Pension Service now owns 97,719 shares of the company’s stock worth $5,591,000 after buying an additional 4,152 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Nordstrom during the first quarter worth approximately $11,802,000. Legal & General Group Plc boosted its stake in shares of Nordstrom by 1.2% in the first quarter. Legal & General Group Plc now owns 666,378 shares of the company’s stock worth $38,124,000 after buying an additional 7,922 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Nordstrom by 30.4% in the first quarter. Envestnet Asset Management Inc. now owns 67,758 shares of the company’s stock worth $3,876,000 after buying an additional 15,793 shares during the period. 66.50% of the stock is currently owned by institutional investors.
Nordstrom Company Profile
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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