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

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a note issued to investors on Thursday. The firm set a “buy” rating on the specialty retailer’s stock.

Several other brokerages have also issued reports on JWN. Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. UBS Group upgraded 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. Bank of America lifted their price target 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. Finally, Evercore ISI boosted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.17.

Nordstrom Trading Down 0.1 %

JWN opened at $24.29 on Thursday. The firm has a market cap of $4.01 billion, a P/E ratio of 15.47 and a beta of 2.51. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The stock has a 50-day moving average of $24.22 and a 200 day moving average of $23.25.

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

Hedge Funds Weigh In On Nordstrom

Large investors have recently made changes to their positions in the business. Quantinno Capital Management LP increased its position in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after buying an additional 31,498 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

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.