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

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

Several other equities analysts also recently weighed in on the stock. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and raised their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Argus cut Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. Finally, Bank of America upped their price objective on Nordstrom from $20.00 to $22.00 and gave the company an "underperform" rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.90.

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Nordstrom Stock Up 0.3 %

Shares of Nordstrom stock traded up $0.08 during trading hours on Friday, reaching $24.45. 1,487,831 shares of the company were exchanged, compared to its average volume of 2,434,181. The stock's fifty day moving average is $24.27 and its 200 day moving average is $23.53. The firm has a market cap of $4.03 billion, a PE ratio of 15.57 and a beta of 2.60. Nordstrom has a 1 year low of $17.20 and a 1 year high of $24.99. 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 (NYSE:JWN - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $4.32 billion. As a group, equities research analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JWN. Spire Wealth Management raised its holdings in Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock worth $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new position in shares of Nordstrom in the fourth quarter valued at about $63,000. Vestcor Inc bought a new stake in Nordstrom in the 4th quarter valued at $63,000. Atlas Capital Advisors Inc. boosted its holdings in Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer's stock valued at $107,000 after purchasing an additional 1,391 shares during the period. Finally, KBC Group NV increased its position in shares of Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock worth $116,000 after purchasing an additional 1,287 shares during the period. 88.73% of the stock is currently owned by institutional investors.

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.