Nordstrom, Inc. (NYSE:JWN) Receives $22.80 Average Price Target from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned a consensus recommendation of “Reduce” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.80.

JWN has been the subject of several research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. Barclays raised their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Evercore ISI boosted their price target 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. Finally, StockNews.com began coverage on shares of Nordstrom in a research note on Wednesday. They issued a “buy” rating for the company.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $23.86 on Tuesday. The firm has a market cap of $3.99 billion, a PE ratio of 15.20 and a beta of 2.31. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a 52 week low of $17.91 and a 52 week high of $24.99. The business’s fifty day simple moving average is $24.17 and its 200-day simple moving average is $23.69.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Equities analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JWN. Pentwater Capital Management LP acquired a new stake in shares of Nordstrom in the 4th quarter valued at $61,582,000. Hennessy Advisors Inc. purchased a new stake in Nordstrom during the 4th quarter worth about $56,026,000. Norges Bank acquired a new position in shares of Nordstrom during the 4th quarter worth about $33,480,000. Great Lakes Advisors LLC purchased a new position in shares of Nordstrom in the 4th quarter valued at about $21,736,000. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Nordstrom by 453.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 667,710 shares of the specialty retailer’s stock worth $16,125,000 after acquiring an additional 547,147 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.