Nordstrom (NYSE:JWN) Stock Rating Reaffirmed by Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Friday, Benzinga reports. They currently have a $19.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price objective suggests a potential downside of 10.99% from the company’s previous close.

JWN has been the subject of a number of other reports. Piper Sandler raised their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target (down from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Barclays lifted their price target on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.69.

Nordstrom Stock Performance

NYSE JWN opened at $21.35 on Friday. Nordstrom has a 52-week low of $12.88 and a 52-week high of $23.53. The company has a 50-day simple moving average of $19.58 and a 200 day simple moving average of $18.37. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.41 and a current ratio of 1.02. The company has a market capitalization of $3.48 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.42 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. On average, research analysts predict that Nordstrom will post 1.8 EPS for the current year.

Institutional Trading of Nordstrom

Hedge funds have recently modified their holdings of the business. Register Financial Advisors LLC bought a new stake in shares of Nordstrom during the 1st quarter valued at $30,000. Hexagon Capital Partners LLC boosted its holdings in shares of Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 869 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,100 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Nordstrom during the 3rd quarter valued at $45,000. Finally, CWM LLC boosted its holdings in shares of Nordstrom by 1,000.3% during the 1st quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after buying an additional 3,391 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.