StockNews.com started coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a report issued on Monday morning. The firm issued a buy rating on the specialty retailer's stock.
JWN has been the subject of a number of other research reports. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and upped their target price for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Finally, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.90.
View Our Latest Stock Report on JWN
Nordstrom Stock Performance
Shares of NYSE:JWN traded down $0.46 during trading on Monday, reaching $24.00. 10,277,339 shares of the stock were exchanged, compared to its average volume of 2,503,098. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The stock has a 50-day moving average price of $24.31 and a 200-day moving average price of $23.61. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99. The firm has a market cap of $3.96 billion, a PE ratio of 15.28 and a beta of 2.60.
Nordstrom (NYSE:JWN - Get Free Report) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Research analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.
Institutional Investors Weigh In On Nordstrom
A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Nordstrom by 40.9% in the first quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer's stock worth $40,000 after purchasing an additional 470 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nordstrom during the 4th quarter valued at $63,000. Vestcor Inc purchased a new position in Nordstrom in the fourth quarter worth about $63,000. Finally, Atlas Capital Advisors Inc. grew its position in Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer's stock valued at $107,000 after buying an additional 1,391 shares during the period. Institutional investors own 88.73% of the company's stock.
Nordstrom Company Profile
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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.
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