Nordstrom, Inc. (NYSE:JWN) Rating Increased to Sell at Vetr Inc.
Nordstrom, Inc. (NYSE:JWN) was upgraded by equities research analysts at Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, July 11th. The brokerage currently has a $41.54 target price on the specialty retailer’s stock. Vetr‘s price objective would indicate a potential downside of 11.26% from the company’s current price.
A number of other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of Nordstrom from a “b-” rating to a “c” rating in a research note on Thursday, May 11th. Atlantic Securities raised shares of Nordstrom from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $45.00 to $58.00 in a report on Thursday, May 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 price target on shares of Nordstrom in a report on Monday, March 27th. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, Maxim Group set a $61.00 price target on shares of Nordstrom and gave the stock a “buy” rating in a report on Thursday, May 4th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.23.
Shares of Nordstrom (NYSE:JWN) traded down 0.09% during midday trading on Tuesday, reaching $46.81. The company had a trading volume of 2,088,844 shares. Nordstrom has a one year low of $39.05 and a one year high of $62.82. The company has a market capitalization of $7.77 billion, a PE ratio of 21.91 and a beta of 0.83. The company has a 50 day moving average of $47.44 and a 200 day moving average of $45.41.
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A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 236 shares during the last quarter. Gemmer Asset Management LLC increased its stake in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank increased its stake in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Nordstrom during the first quarter valued at $113,000. Finally, NEXT Financial Group Inc increased its stake in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 942 shares during the last quarter. 64.22% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
To view Vetr’s full report, visit Vetr’s official website.
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