Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Thursday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other brokerages have also weighed in on JWN. Barclays increased their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Finally, Citigroup reissued a “sell” rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Trading Down 0.3 %

Shares of Nordstrom stock opened at $24.16 on Thursday. The stock has a market cap of $4.04 billion, a P/E ratio of 15.39 and a beta of 2.31. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The business’s 50 day moving average is $24.13 and its 200-day moving average is $23.80. Nordstrom has a 12-month low of $18.57 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Equities research analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in Nordstrom by 40.9% during the first quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 470 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Nordstrom by 48.6% during the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock worth $41,000 after buying an additional 553 shares in the last quarter. Spire Wealth Management lifted its position in shares of Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Nordstrom in the fourth quarter valued at about $63,000. Finally, Vestcor Inc acquired a new stake in Nordstrom in the fourth quarter valued at about $63,000. 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.