Citigroup Boosts Nordstrom (NYSE:JWN) Price Target to $23.00

Nordstrom (NYSE:JWN - Get Free Report) had its target price upped by equities research analysts at Citigroup from $22.00 to $23.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. Citigroup's price target would suggest a potential upside of 1.50% from the company's current price.

JWN has been the subject of several other reports. The Goldman Sachs Group boosted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. KeyCorp downgraded shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a research note on Thursday, September 26th. TD Cowen raised their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an "underweight" rating in a report on Wednesday, August 28th. Finally, Bank of America lifted their price target on shares of Nordstrom from $18.00 to $20.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $20.58.

Nordstrom Stock Performance

Nordstrom stock traded up $0.36 during mid-day trading on Tuesday, reaching $22.66. The company's stock had a trading volume of 1,373,482 shares, compared to its average volume of 3,047,279. Nordstrom has a 12-month low of $13.68 and a 12-month high of $24.93. The company has a market capitalization of $3.72 billion, a P/E ratio of 13.25 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The firm's fifty day moving average price is $22.74 and its two-hundred day moving average price is $22.09.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the firm posted $0.84 EPS. The firm's revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Nordstrom will post 1.91 EPS for the current fiscal year.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company's stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.78% of the company's stock.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently made changes to their positions in JWN. Verition Fund Management LLC boosted its stake in shares of Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer's stock worth $27,401,000 after purchasing an additional 725,803 shares during the period. American Century Companies Inc. boosted its position in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer's stock valued at $35,251,000 after buying an additional 661,769 shares during the period. Vanguard Group Inc. boosted its position in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer's stock valued at $215,936,000 after buying an additional 579,001 shares during the period. Marshall Wace LLP boosted its position in Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock valued at $31,393,000 after buying an additional 410,152 shares during the period. Finally, NewSquare Capital LLC purchased a new stake in Nordstrom in the 2nd quarter valued at about $7,783,000. 88.73% of the stock is owned by hedge funds and other 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.