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

Analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN - Get Free Report) in a research note issued to investors on Sunday. The firm set a "buy" rating on the specialty retailer's stock.

Several other brokerages have also weighed in on JWN. Barclays increased their price objective 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. Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and increased their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Bank of America upped their price target on Nordstrom from $20.00 to $22.00 and gave the company an "underperform" rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has an average rating of "Hold" and an average price target of $22.90.

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Nordstrom Trading Up 0.1 %

NYSE:JWN traded up $0.03 during trading hours on Friday, hitting $24.40. 1,164,994 shares of the stock were exchanged, compared to its average volume of 2,481,564. The company has a market capitalization of $4.03 billion, a P/E ratio of 15.54 and a beta of 2.60. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company's 50 day moving average is $24.27 and its two-hundred day moving average is $23.53. Nordstrom has a twelve month low of $17.21 and a twelve month high of $24.99.

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, sell-side analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Nordstrom in the 4th quarter valued at about $228,000. Michels Family Financial LLC acquired a new stake in Nordstrom in the 4th quarter valued at approximately $724,000. BCK Capital Management LP bought a new stake in Nordstrom in the 4th quarter valued at approximately $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Nordstrom by 16.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer's stock valued at $8,709,000 after acquiring an additional 50,049 shares in the last quarter. Finally, Towle & Co. acquired a new position in Nordstrom during the 4th quarter worth approximately $2,044,000. 88.73% of the stock is owned by institutional investors.

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.