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

Equities researchers at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the specialty retailer’s stock.

Several other brokerages have also commented on JWN. Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Monday, January 13th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Bank of America lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Barclays raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Up 0.1 %

Nordstrom stock opened at $24.35 on Wednesday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 15.51 and a beta of 2.51. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a 50 day moving average price of $24.09 and a two-hundred day moving average price of $23.13.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Equities analysts predict that Nordstrom will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama increased its holdings in Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares in the last quarter. Freestone Capital Holdings LLC boosted its position in shares of Nordstrom by 3.0% during the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock valued at $465,000 after buying an additional 558 shares during the last quarter. Amalgamated Bank grew its holdings in Nordstrom by 1.4% during the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after buying an additional 617 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after buying an additional 640 shares during the last quarter. Finally, Wedmont Private Capital lifted its stake in Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock valued at $278,000 after acquiring an additional 723 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.