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

Stock analysts at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN - Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a "buy" rating on the specialty retailer's stock.

JWN has been the topic of several other reports. Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Citigroup reiterated a "sell" rating and set a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Evercore ISI lifted their price objective on Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research note on Monday, January 13th. Finally, Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Nordstrom has an average rating of "Hold" and an average target price of $22.80.

Nordstrom Stock Performance

JWN stock traded down $0.08 during trading on Thursday, reaching $24.08. The company had a trading volume of 1,381,161 shares, compared to its average volume of 2,600,806. The firm has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $23.82. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 15.34 and a beta of 2.31. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a twelve month low of $18.57 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last released its 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 net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $4.32 billion during the quarter, compared to analysts' expectations of $4.32 billion. As a group, sell-side analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently bought and sold shares of JWN. Virtu Financial LLC acquired a new stake in Nordstrom in the 3rd quarter worth about $451,000. Tidal Investments LLC boosted its holdings in Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer's stock worth $396,000 after buying an additional 5,690 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Nordstrom by 29.9% in the 3rd quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer's stock worth $1,152,000 after buying an additional 11,583 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer's stock worth $8,744,000 after buying an additional 89,114 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Nordstrom by 6.7% in the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer's stock worth $278,000 after buying an additional 723 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

About Nordstrom

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.