Nordstrom (NYSE:JWN) Sees Large Volume Increase – Should You Buy?

Nordstrom, Inc. (NYSE:JWN) shares saw unusually-strong trading volume on Friday . Approximately 6,547,260 shares changed hands during trading, an increase of 145% from the previous session’s volume of 2,668,523 shares.The stock last traded at $24.59 and had previously closed at $24.54.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JWN shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Citigroup reissued a “sell” rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Finally, StockNews.com assumed coverage on Nordstrom in a report on Sunday. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average price target of $22.80.

Nordstrom Trading Up 0.2%

The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 15.66 and a beta of 2.36. The business has a 50 day moving average of $24.13 and a 200 day moving average of $23.90.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, research analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Nordstrom

Large investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in shares of Nordstrom during the first quarter valued at $25,000. Versant Capital Management Inc boosted its stake 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 acquiring an additional 470 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Nordstrom by 48.6% during the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 553 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Nordstrom during the first quarter worth about $45,000. Finally, Spire Wealth Management lifted its position 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 buying an additional 1,000 shares during the period. 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.