Nordstrom (NYSE:JWN) Lowered to Hold at StockNews.com

Nordstrom (NYSE:JWN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also recently weighed in on JWN. Evercore ISI upped their price target on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Bank of America upped their price target on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Barclays upped their price target on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. Finally, Telsey Advisory Group upped their price target on shares of Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $17.75.

Nordstrom Trading Down 2.9 %

Shares of NYSE JWN traded down $0.68 during trading on Monday, hitting $22.80. 2,392,181 shares of the company traded hands, compared to its average volume of 3,626,803. Nordstrom has a 1 year low of $12.88 and a 1 year high of $23.74. The company has a 50-day moving average price of $21.50 and a 200-day moving average price of $19.87. The firm has a market capitalization of $3.73 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.69 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post 1.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in JWN. Premier Path Wealth Partners LLC acquired a new position in Nordstrom during the 4th quarter valued at approximately $1,081,000. Wellington Management Group LLP boosted its position in Nordstrom by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock valued at $5,434,000 after purchasing an additional 125,877 shares during the period. Norges Bank acquired a new position in Nordstrom during the 4th quarter valued at approximately $23,572,000. Capstone Investment Advisors LLC boosted its position in Nordstrom by 185.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after purchasing an additional 137,271 shares during the period. Finally, Boulder Hill Capital Management LP acquired a new position in Nordstrom during the 4th quarter valued at approximately $2,065,000. Institutional investors and hedge funds 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.