Citigroup Reaffirms “Sell” Rating for Nordstrom (NYSE:JWN)

Nordstrom (NYSE:JWN)‘s stock had its “sell” rating reaffirmed by investment analysts at Citigroup in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $22.00 target price on the specialty retailer’s stock, down from their prior target price of $25.00. Citigroup’s price objective would suggest a potential downside of 5.68% from the company’s current price.

Other analysts have also recently issued reports about the company. Barclays raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. StockNews.com assumed coverage on shares of Nordstrom in a report on Monday, March 31st. They issued a “buy” rating for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Trading Down 2.6 %

Shares of JWN opened at $23.33 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. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The firm has a 50 day moving average price of $24.29 and a 200-day moving average price of $23.63. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 14.86 and a beta of 2.31.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.32 billion. As a group, equities research analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Trading of Nordstrom

Several institutional investors have recently added to or reduced their stakes in JWN. Versant Capital Management Inc lifted its holdings in shares of Nordstrom by 40.9% during the first quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 470 shares in the last quarter. Spire Wealth Management grew its stake in shares of Nordstrom by 90.9% in 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 during the period. Wolverine Asset Management LLC purchased a new position in shares of Nordstrom during the fourth quarter valued at approximately $63,000. Vestcor Inc bought a new position in Nordstrom during the fourth quarter valued at approximately $63,000. Finally, Atlas Capital Advisors Inc. boosted its holdings in Nordstrom by 45.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock worth $107,000 after purchasing an additional 1,391 shares during the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.