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

Equities research analysts at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research report issued on Saturday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other equities analysts have also weighed in on JWN. Barclays upped their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.50 to $24.00 in a report on Friday, January 10th. Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Down 0.1 %

NYSE:JWN opened at $24.21 on Friday. Nordstrom has a one year low of $16.79 and a one year high of $24.99. The business has a fifty day moving average price of $24.25 and a 200-day moving average price of $23.44. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.60. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Sell-side analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

Several large investors have recently bought and sold shares of the business. Pentwater Capital Management LP purchased a new position in shares of Nordstrom in the 4th quarter worth $61,582,000. Hennessy Advisors Inc. purchased a new position in Nordstrom in the fourth quarter worth about $56,026,000. Norges Bank purchased a new position in Nordstrom in the fourth quarter worth about $33,480,000. Great Lakes Advisors LLC bought a new stake in Nordstrom during the fourth quarter worth approximately $21,736,000. Finally, Verition Fund Management LLC raised its position in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the period. Institutional investors own 88.73% of the company’s stock.

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.