Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

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

Several other equities analysts also recently commented on the company. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. 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 note on Wednesday, November 27th. Evercore ISI lifted their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $24.23 on Friday. 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 market cap of $4.00 billion, a price-to-earnings ratio of 15.44 and a beta of 2.60. The business’s 50-day simple moving average is $24.26 and its 200-day simple moving average is $23.50. Nordstrom has a 52 week low of $17.21 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share 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, equities research analysts expect that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cooper Creek Partners Management LLC lifted its stake in Nordstrom by 11.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer’s stock worth $90,752,000 after purchasing an additional 372,024 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 stake in Nordstrom by 18.3% during the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock worth $70,331,000 after purchasing an additional 450,539 shares during the last quarter. Pentwater Capital Management LP bought a new stake in Nordstrom during the fourth quarter worth $61,582,000. Finally, Hennessy Advisors Inc. bought a new stake in Nordstrom during the fourth quarter worth $56,026,000. 88.73% of the stock is currently owned by institutional investors.

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.