Analysts Set Nordstrom, Inc. (NYSE:JWN) Target Price at $22.80

Shares of Nordstrom, Inc. (NYSE:JWN) have been given an average recommendation of “Reduce” by the twelve analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.80.

A number of analysts recently issued reports on the stock. Citigroup restated a “sell” rating and set a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Wall Street Zen started coverage on shares of Nordstrom in a report on Sunday, May 18th. They set a “buy” rating for the company. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th.

Nordstrom Trading Up 0.1%

NYSE:JWN opened at $24.68 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 $4.13 billion, a price-to-earnings ratio of 15.72 and a beta of 2.36. The firm has a 50-day moving average price of $24.54 and a two-hundred day moving average price of $24.28. Nordstrom has a 52 week low of $19.45 and a 52 week high of $24.99.

Hedge Funds Weigh In On Nordstrom

Several hedge funds have recently made changes to their positions in JWN. Picton Mahoney Asset Management purchased a new position in shares of Nordstrom in the first quarter valued at $25,000. Versant Capital Management Inc grew its holdings in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 470 shares in the last quarter. Parallel Advisors LLC grew its holdings in Nordstrom by 48.6% during the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 553 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Nordstrom during the 1st quarter valued at about $45,000. Finally, Vestcor Inc purchased a new position in Nordstrom during the fourth quarter valued at approximately $63,000. 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.