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

Analysts at StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a research report issued on Wednesday. The brokerage set a “buy” rating on the specialty retailer’s stock.

A number of other analysts also recently commented 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 report on Thursday, January 16th. Citigroup reiterated a “sell” rating and set a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded 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. Finally, Evercore ISI upped their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.80.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $23.86 on Wednesday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 15.20 and a beta of 2.31. The business has a 50 day simple moving average of $24.17 and a two-hundred day simple moving average of $23.69. Nordstrom has a 12 month low of $17.91 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. As a group, analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its position in Nordstrom by 40.9% in 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 during the period. Retirement Systems of Alabama grew its stake in shares of Nordstrom by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock valued at $2,845,000 after buying an additional 512 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Nordstrom by 48.6% in the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 553 shares during the period. Freestone Capital Holdings LLC lifted its stake in Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 558 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Nordstrom by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 34,985 shares of the specialty retailer’s stock valued at $855,000 after acquiring an additional 594 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Company Profile

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.