StockNews.com Initiates Coverage on Nordstrom (NYSE:JWN)

Research analysts at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN - Get Free Report) in a research note issued on Wednesday. The firm set a "buy" rating on the specialty retailer's stock.

JWN has been the subject of several other research reports. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Evercore ISI raised 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. Citigroup restated a "sell" rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and increased their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.80.

Nordstrom Stock Down 0.0 %

Shares of Nordstrom stock traded down $0.00 during trading on Wednesday, hitting $23.86. 1,779,981 shares of the stock were exchanged, compared to its average volume of 2,612,693. The firm's 50-day moving average price is $24.17 and its 200 day moving average price is $23.69. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 15.20 and a beta of 2.31. Nordstrom has a 12-month low of $17.91 and a 12-month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

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

Institutional Investors Weigh In On Nordstrom

Several large investors have recently added to or reduced their stakes in JWN. Versant Capital Management Inc boosted its position in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 470 shares during the period. Parallel Advisors LLC increased its holdings in shares of Nordstrom by 48.6% in the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer's stock valued at $41,000 after buying an additional 553 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Nordstrom in the fourth quarter worth about $63,000. Finally, Vestcor Inc acquired a new position in Nordstrom in the 4th quarter worth approximately $63,000. 88.73% of the stock is 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.