Nordstrom (NYSE:JWN - Get Free Report) had its target price boosted by investment analysts at Barclays from $23.00 to $24.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the specialty retailer's stock. Barclays's price objective would indicate a potential downside of 0.48% from the stock's current price.
JWN has been the topic of a number of other research reports. StockNews.com began coverage on Nordstrom in a report on Friday, January 10th. They set a "buy" rating on the stock. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and upped their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. KeyCorp downgraded Nordstrom from an "overweight" rating to a "sector weight" rating in a report on Thursday, September 26th. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Finally, Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Nordstrom has a consensus rating of "Hold" and an average price target of $22.17.
Check Out Our Latest Stock Analysis on Nordstrom
Nordstrom Trading Down 0.1 %
Shares of Nordstrom stock traded down $0.02 during midday trading on Thursday, reaching $24.12. 2,058,862 shares of the company's stock traded hands, compared to its average volume of 3,658,458. The stock has a 50 day moving average of $23.55 and a 200-day moving average of $22.80. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The company has a market cap of $3.98 billion, a PE ratio of 15.36 and a beta of 2.52. 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 issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities analysts expect that Nordstrom will post 1.95 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer's stock worth $66,557,000 after buying an additional 137,094 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Nordstrom during the 4th quarter valued at about $56,026,000. Geode Capital Management LLC grew its stake in shares of Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer's stock worth $36,570,000 after acquiring an additional 5,407 shares during the period. Marshall Wace LLP raised its holdings in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock valued at $31,393,000 after purchasing an additional 410,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer's stock valued at $32,000,000 after purchasing an additional 208,193 shares during the period. Hedge funds and other institutional investors own 88.73% of the company's stock.
Nordstrom Company Profile
(
Get Free Report)
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.
Read More
Before you consider Nordstrom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nordstrom wasn't on the list.
While Nordstrom currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
