Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a research report report published on Wednesday. The brokerage issued a buy rating on the specialty retailer's stock.

Several other equities analysts have also issued reports on the stock. Barclays lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Bank of America boosted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a report on Wednesday, November 27th. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Argus lowered shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price objective on shares of Nordstrom in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $22.17.

Nordstrom Trading Down 0.1 %

Shares of NYSE JWN traded down $0.03 during trading hours on Wednesday, hitting $24.33. The company's stock had a trading volume of 2,008,469 shares, compared to its average volume of 2,282,084. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The business has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $23.14.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. On average, analysts anticipate 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 have recently modified their holdings of the business. Retirement Systems of Alabama grew its position in shares of Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer's stock valued at $2,845,000 after acquiring an additional 512 shares during the period. Freestone Capital Holdings LLC grew its position in shares of Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer's stock valued at $465,000 after acquiring an additional 558 shares during the period. Amalgamated Bank grew its position in shares of Nordstrom by 1.4% during the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer's stock valued at $1,089,000 after acquiring an additional 617 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer's stock valued at $1,351,000 after acquiring an additional 640 shares during the period. Finally, Wedmont Private Capital grew its position in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer's stock valued at $278,000 after acquiring an additional 723 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.