Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a research note issued to investors on Tuesday morning. The firm issued a buy rating on the specialty retailer's stock.

JWN has been the topic of several other research reports. Evercore ISI increased their target price on Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research note on Monday, January 13th. Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and increased their target price for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.80.

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Nordstrom Price Performance

NYSE JWN traded down $0.01 on Tuesday, hitting $23.82. 3,228,888 shares of the company were exchanged, compared to its average volume of 2,629,803. Nordstrom has a 1-year low of $17.21 and a 1-year high of $24.99. The firm has a 50 day moving average of $24.20 and a two-hundred day moving average of $23.65. The company has a market cap of $3.93 billion, a P/E ratio of 15.17 and a beta of 2.31. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

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

Institutional Investors Weigh In On Nordstrom

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Nordstrom by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer's stock valued at $6,985,000 after acquiring an additional 7,139 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer's stock worth $1,342,000 after purchasing an additional 39,104 shares during the period. Quantinno Capital Management LP lifted its holdings in Nordstrom by 49.3% during the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock worth $3,264,000 after purchasing an additional 47,923 shares during the last quarter. XTX Topco Ltd boosted its stake in Nordstrom by 87.9% in the 3rd quarter. XTX Topco Ltd now owns 40,353 shares of the specialty retailer's stock valued at $908,000 after purchasing an additional 18,881 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in Nordstrom during the 3rd quarter worth $215,000. 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.