StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

Investment analysts at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a report released on Monday. The brokerage set a “buy” rating on the specialty retailer’s stock.

JWN has been the topic of a number of other reports. Evercore ISI raised their target price 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. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Finally, Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Up 0.1 %

Shares of JWN opened at $24.47 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The firm has a market cap of $4.04 billion, a P/E ratio of 15.58 and a beta of 2.60. The stock’s 50 day moving average is $24.31 and its two-hundred day moving average is $23.61. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion for 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%. Analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama grew its holdings in shares of Nordstrom by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in Nordstrom by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock valued at $465,000 after buying an additional 558 shares during the last quarter. Amalgamated Bank grew its position in shares of Nordstrom by 1.4% during the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after acquiring an additional 617 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after purchasing an additional 640 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of Nordstrom by 6.7% during the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after buying an additional 723 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.