Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

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

A number of other equities analysts also recently commented on JWN. Citigroup lifted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI boosted 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Up 0.3 %

NYSE JWN opened at $24.46 on Friday. The business has a fifty day moving average price of $24.24 and a 200 day moving average price of $23.33. 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 company has a market cap of $4.04 billion, a P/E ratio of 15.58 and a beta of 2.60. Nordstrom has a one year low of $16.78 and a one year high of $24.99.

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

Hedge Funds Weigh In On Nordstrom

Institutional investors and hedge funds have recently modified their holdings of the company. Cooper Creek Partners Management LLC increased its holdings in shares of Nordstrom by 11.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer’s stock valued at $90,752,000 after acquiring an additional 372,024 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Nordstrom by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,322 shares of the specialty retailer’s stock worth $78,858,000 after purchasing an additional 138,900 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after purchasing an additional 450,539 shares during the last quarter. Pentwater Capital Management LP acquired a new position in Nordstrom during the fourth quarter worth approximately $61,582,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Nordstrom in the fourth quarter valued at approximately $56,026,000. 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.