BMO Capital Markets Analysts Give Nordstrom (JWN) a $50.00 Price Target

BMO Capital Markets set a $50.00 price objective on Nordstrom (NYSE:JWN) in a research note released on Friday morning. The firm currently has a hold rating on the specialty retailer’s stock.

Other research analysts also recently issued reports about the company. KeyCorp restated an outperform rating on shares of Nordstrom in a research note on Friday, November 10th. JPMorgan Chase & Co. upgraded Nordstrom from an underweight rating to a neutral rating and boosted their target price for the stock from $33.00 to $48.00 in a research note on Tuesday, January 2nd. Robert W. Baird dropped their target price on Nordstrom from $50.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, November 10th. Citigroup restated a hold rating and set a $43.00 target price on shares of Nordstrom in a research note on Friday, November 10th. Finally, Bank of America dropped their target price on Nordstrom from $40.00 to $35.00 and set an underperform rating on the stock in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $47.11.

Shares of Nordstrom (NYSE JWN) traded down $0.66 during trading hours on Friday, hitting $51.16. The stock had a trading volume of 493,316 shares, compared to its average volume of 2,578,144. Nordstrom has a twelve month low of $37.79 and a twelve month high of $53.00. The stock has a market cap of $8,632.30, a P/E ratio of 18.01, a PEG ratio of 2.90 and a beta of 0.89. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the business posted $0.84 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. sell-side analysts forecast that Nordstrom will post 2.98 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial For Lutherans acquired a new stake in Nordstrom during the 2nd quarter worth about $202,000. Stonebridge Capital Advisors LLC lifted its holdings in shares of Nordstrom by 5.0% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 71,988 shares of the specialty retailer’s stock valued at $3,443,000 after buying an additional 3,428 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Nordstrom by 233.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 284,681 shares of the specialty retailer’s stock valued at $13,423,000 after buying an additional 199,339 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Nordstrom by 6.8% in the 3rd quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock valued at $71,642,000 after buying an additional 97,000 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Nordstrom by 26.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 797,763 shares of the specialty retailer’s stock valued at $37,615,000 after buying an additional 168,724 shares during the period. 57.70% of the stock is owned by institutional investors.

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Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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