Nordstrom (NYSE:JWN) Raised to “Strong-Buy” at StockNews.com

Nordstrom (NYSE:JWN) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

JWN has been the subject of several other research reports. BMO Capital Markets increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Citigroup increased their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday. TD Cowen increased their price target on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, UBS Group increased their price target on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $20.65.

Nordstrom Stock Performance

Shares of NYSE JWN traded down $2.01 during mid-day trading on Wednesday, hitting $22.62. The company had a trading volume of 7,660,466 shares, compared to its average volume of 3,062,666. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The business’s 50-day simple moving average is $22.86 and its 200-day simple moving average is $22.23. Nordstrom has a 12 month low of $14.80 and a 12 month high of $24.99. The firm has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, analysts predict that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co boosted its stake in Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the last quarter. Atlas Capital Advisors LLC boosted its stake in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 760 shares during the last quarter. Stephens Inc. AR boosted its stake in Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares during the last quarter. Finally, CWM LLC boosted its stake in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the last quarter. 88.73% of the stock is owned by 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.