Nordstrom (NYSE:JWN) Receives “Market Perform” Rating from Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a note issued to investors on Wednesday,Benzinga reports. They presently have a $24.00 price target on the specialty retailer’s stock. Telsey Advisory Group’s target price points to a potential downside of 1.58% from the company’s previous close.

JWN has been the topic of a number of other research reports. Citigroup increased their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Barclays raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Finally, StockNews.com assumed coverage on shares of Nordstrom in a research note on Thursday, February 27th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average price target of $22.36.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.39 on Wednesday. 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 company has a 50 day moving average price of $24.23 and a 200-day moving average price of $23.31. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The firm has a market capitalization of $4.02 billion, a PE ratio of 15.53 and a beta of 2.51.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. As a group, equities research analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Nordstrom

Large investors have recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. bought a new stake in Nordstrom during the 4th quarter valued at approximately $228,000. Michels Family Financial LLC purchased a new stake in Nordstrom during the 4th quarter valued at approximately $724,000. BCK Capital Management LP bought a new stake in shares of Nordstrom during the fourth quarter valued at approximately $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nordstrom by 16.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock worth $8,709,000 after buying an additional 50,049 shares in the last quarter. Finally, Towle & Co. bought a new position in shares of Nordstrom during the fourth quarter worth $2,044,000. 88.73% of the stock is currently owned by hedge funds and other 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.