Nordstrom (NYSE:JWN) Given Sell Rating at Citigroup

Nordstrom (NYSE:JWN - Get Free Report)'s stock had its "sell" rating reissued by investment analysts at Citigroup in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $22.00 target price on the specialty retailer's stock, down from their previous target price of $25.00. Citigroup's price target would indicate a potential downside of 7.40% from the stock's previous close.

Several other brokerages have also issued reports on JWN. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Barclays boosted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. Finally, Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned 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 $22.80.

Remove Ads

Nordstrom Trading Up 2.8 %

JWN stock traded up $0.65 during mid-day trading on Friday, reaching $23.76. The company's stock had a trading volume of 5,977,394 shares, compared to its average volume of 2,597,094. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99. 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 business's 50 day moving average price is $24.23 and its 200 day moving average price is $23.64. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 15.12 and a beta of 2.31.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. On average, equities research analysts predict that Nordstrom will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional 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 about $61,582,000. Hennessy Advisors Inc. purchased a new position in Nordstrom in the fourth quarter valued at about $56,026,000. Norges Bank purchased a new position in Nordstrom in the fourth quarter valued at about $33,480,000. Great Lakes Advisors LLC bought a new position in shares of Nordstrom during the 4th quarter valued at approximately $21,736,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Nordstrom by 453.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 667,710 shares of the specialty retailer's stock worth $16,125,000 after purchasing an additional 547,147 shares during the period. Hedge funds and other 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.