Nordstrom, Inc. (NYSE:JWN) Receives $22.90 Consensus PT from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have earned a consensus recommendation of “Reduce” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.90.

Several brokerages have issued reports on JWN. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. StockNews.com began coverage on shares of Nordstrom in a research report on Sunday. They issued a “buy” rating for the company. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Evercore ISI upped their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.23 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 15.44 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $24.26 and a 200 day simple moving average of $23.50. Nordstrom has a one year low of $17.21 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last issued 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 net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Research analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JWN. Spire Wealth Management boosted its stake in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Nordstrom during the fourth quarter worth $63,000. Vestcor Inc bought a new position in Nordstrom during the fourth quarter worth $63,000. Atlas Capital Advisors Inc. boosted its stake in Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after acquiring an additional 1,391 shares in the last quarter. Finally, KBC Group NV boosted its stake in Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 1,287 shares in the last quarter. 88.73% of the stock is 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.