Nordstrom's (JWN) "Market Perform" Rating Reiterated at Telsey Advisory Group

Nordstrom (NYSE:JWN - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued on Monday,Benzinga reports. They currently have a $24.00 price objective on the specialty retailer's stock. Telsey Advisory Group's price target would indicate a potential downside of 0.46% from the company's current price.

Several other brokerages have also commented on JWN. StockNews.com initiated coverage on Nordstrom in a research report on Friday. They set a "buy" rating on the stock. KeyCorp downgraded shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a research note on Thursday, September 26th. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an "underperform" rating in a report on Wednesday, November 27th. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Finally, Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. 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 data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.08.

Nordstrom Price Performance

Shares of NYSE:JWN traded up $0.10 on Monday, hitting $24.11. The company's stock had a trading volume of 556,930 shares, compared to its average volume of 3,917,157. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The company has a market capitalization of $3.98 billion, a PE ratio of 15.36 and a beta of 2.52. The company has a 50-day simple moving average of $23.41 and a 200 day simple moving average of $22.72.

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

Institutional Trading of Nordstrom

Large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue grew its stake in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer's stock worth $252,000 after purchasing an additional 760 shares during the period. Stephens Inc. AR grew its position in shares of Nordstrom by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer's stock worth $3,442,000 after buying an additional 805 shares during the period. CWM LLC increased its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer's stock worth $82,000 after acquiring an additional 810 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Nordstrom by 355.9% in 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. Finally, Caprock Group LLC lifted its position in Nordstrom by 9.1% during the 3rd quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer's stock valued at $268,000 after acquiring an additional 1,000 shares during the period. 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.