Nordstrom (NYSE:JWN) Price Target Raised to $24.00

Nordstrom (NYSE:JWN - Get Free Report) had its target price hoisted by research analysts at Evercore ISI from $22.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the specialty retailer's stock. Evercore ISI's price objective suggests a potential downside of 0.66% from the company's current price.

Several other research analysts have also weighed in on JWN. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $14.50 to $24.00 in a report on Friday. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a report on Monday. Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. StockNews.com started coverage on Nordstrom in a report on Friday. They issued a "buy" rating on the stock. Finally, Citigroup upped their price target on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has a consensus rating of "Hold" and a consensus target price of $22.08.

Nordstrom Price Performance

Shares of NYSE:JWN traded up $0.15 on Monday, hitting $24.16. The company had a trading volume of 2,919,096 shares, compared to its average volume of 4,266,171. The company has a market cap of $3.99 billion, a PE ratio of 15.39 and a beta of 2.52. The business has a 50 day moving average of $23.43 and a 200 day moving average of $22.74. Nordstrom has a 52-week low of $16.78 and a 52-week 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.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, equities analysts anticipate that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JWN. Venturi Wealth Management LLC grew its holdings in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Nordstrom during the second quarter worth about $71,000. Blue Trust Inc. grew its stake in Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer's stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. CWM LLC increased its holdings in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer's stock valued at $82,000 after buying an additional 810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer's stock valued at $112,000 after buying an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company's stock.

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.