Nordstrom (JWN) Given Hold Rating at Piper Jaffray Companies
Nordstrom (NYSE:JWN)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a report issued on Tuesday. They currently have a $47.00 price target on the specialty retailer’s stock. Piper Jaffray Companies’ price target would indicate a potential downside of 8.38% from the company’s previous close. Piper Jaffray Companies also issued estimates for Nordstrom’s Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $1.40 EPS, FY2019 earnings at $3.37 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.70 EPS, Q4 2020 earnings at $1.39 EPS and FY2020 earnings at $3.38 EPS.
JWN has been the topic of a number of other reports. ValuEngine cut shares of Nordstrom from a “hold” rating to a “sell” rating in a report on Friday, May 11th. UBS Group began coverage on shares of Nordstrom in a report on Thursday, June 21st. They set a “buy” rating on the stock. Cowen cut shares of Nordstrom from an “outperform” rating to a “market perform” rating in a report on Monday, July 2nd. Susquehanna Bancshares reissued a “neutral” rating and set a $47.00 target price on shares of Nordstrom in a report on Thursday, June 7th. Finally, Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, May 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.71.
Shares of NYSE:JWN traded up $0.31 on Tuesday, reaching $51.30. 14,199 shares of the company’s stock were exchanged, compared to its average volume of 2,310,742. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 2.45 and a beta of 0.82. Nordstrom has a fifty-two week low of $37.79 and a fifty-two week high of $54.61. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.44 and a current ratio of 1.09.
In other news, insider Ken Worzel sold 535 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $26,215.00. Following the completion of the transaction, the insider now owns 124,619 shares in the company, valued at $6,106,331. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter E. Nordstrom sold 118,161 shares of the company’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $53.27, for a total transaction of $6,294,436.47. Following the transaction, the insider now owns 2,525,740 shares of the company’s stock, valued at approximately $134,546,169.80. The disclosure for this sale can be found here. Insiders have sold 163,488 shares of company stock valued at $8,672,275 in the last 90 days. Insiders own 7.05% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in JWN. Bank of Montreal Can bought a new position in Nordstrom in the 2nd quarter valued at about $50,353,000. Neuberger Berman Group LLC grew its position in Nordstrom by 253.1% in the 1st quarter. Neuberger Berman Group LLC now owns 813,031 shares of the specialty retailer’s stock valued at $39,359,000 after buying an additional 582,768 shares in the last quarter. Apertura Capital LLC bought a new position in Nordstrom in the 1st quarter valued at about $19,865,000. Prudential Financial Inc. grew its position in Nordstrom by 156.9% in the 1st quarter. Prudential Financial Inc. now owns 508,598 shares of the specialty retailer’s stock valued at $24,621,000 after buying an additional 310,661 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in Nordstrom in the 1st quarter valued at about $14,055,000. Hedge funds and other institutional investors own 56.19% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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