Nordstrom (NYSE:JWN) Upgraded at StockNews.com

Nordstrom (NYSE:JWN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective 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. Bank of America raised their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research note on Friday, May 31st. Telsey Advisory Group boosted their price objective on Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. increased their target price on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Finally, Evercore ISI boosted their price target on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.75.

Nordstrom Trading Down 1.0 %

Shares of Nordstrom stock traded down $0.22 on Tuesday, hitting $21.81. 1,818,908 shares of the company’s stock traded hands, compared to its average volume of 3,554,093. Nordstrom has a one year low of $12.88 and a one year high of $24.03. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. The company has a fifty day moving average of $21.77 and a two-hundred day moving average of $20.08. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 2.60 and a beta of 2.62.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results 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). The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. Nordstrom’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. As a group, sell-side analysts expect that Nordstrom will post 1.79 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently modified their holdings of JWN. CANADA LIFE ASSURANCE Co boosted its position in Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares during the last quarter. State of Michigan Retirement System raised its holdings in Nordstrom by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after acquiring an additional 600 shares during the period. Personal CFO Solutions LLC lifted its position in shares of Nordstrom by 5.7% during the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after acquiring an additional 636 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 659 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Nordstrom by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer’s stock worth $568,000 after acquiring an additional 800 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

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.