Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN - Get Free Report) in a report released on Saturday. The brokerage set a "buy" rating on the specialty retailer's stock.

Other research analysts also recently issued research reports about the company. Barclays raised their price target on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. Finally, Argus cut Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.17.

Nordstrom Stock Down 0.1 %

Shares of JWN traded down $0.02 during mid-day trading on Friday, reaching $24.12. The company's stock had a trading volume of 2,058,862 shares, compared to its average volume of 3,208,321. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The stock 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 current ratio of 1.14 and a quick ratio of 0.35. The company's 50 day moving average is $23.55 and its 200 day moving average is $22.80.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Equities analysts anticipate that Nordstrom will post 1.95 EPS for the current fiscal year.

Institutional Trading of Nordstrom

Hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D acquired a new position in Nordstrom during the second quarter worth $1,835,000. DekaBank Deutsche Girozentrale increased its position in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer's stock worth $112,000 after buying an additional 2,227 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Nordstrom by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 272,922 shares of the specialty retailer's stock worth $5,791,000 after buying an additional 6,099 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Nordstrom by 4.6% during the second 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. Finally, XTX Topco Ltd purchased a new position in Nordstrom during the second quarter worth $456,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.