Equities researchers at UBS AG reduced their target price on shares of Nordstrom (NYSE:JWN) from $70.00 to $68.00 in a research report issued on Friday, American Banking News reports. The firm currently has a “buy” rating on the stock. UBS AG’s price objective points to a potential upside of 14.61% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Nordstrom in a research note to investors on Friday. They now have a $68.00 price target on the stock. Separately, analysts at Sterne Agee downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $62.00 price target on the stock. Finally, analysts at Maxim Group downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $63.00 price target on the stock, down previously from $70.00.
Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $65.86.
Nordstrom (NYSE:JWN) traded down 3.08% on Friday, hitting $57.50. 1,630,579 shares of the company’s stock traded hands. Nordstrom has a 52-week low of $50.94 and a 52-week high of $63.34. The stock’s 50-day moving average is $61.13 and its 200-day moving average is $57.66. The company has a market cap of $11.251 billion and a price-to-earnings ratio of 16.48.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Nordstrom will post $3.78 earnings per share for the current fiscal year.
Nordstrom, Inc is a fashion specialty retailer, with 225 the United States stores located in 30 states as of March 16, 2012.
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