Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a note issued to investors on Sunday. The brokerage set a “buy” rating on the specialty retailer’s stock.

Several other brokerages have also recently issued reports on JWN. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Bank of America increased their target price 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. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.17.

Nordstrom Stock Up 0.1 %

Shares of Nordstrom stock opened at $24.21 on Friday. The company has a market capitalization of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.52. The company has a 50 day moving average of $23.67 and a 200 day moving average of $22.90. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced 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. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the business earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several large investors have recently made changes to their positions in the business. Quantinno Capital Management LP lifted its position in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nordstrom by 17.1% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nordstrom by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after buying an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after buying an additional 31,498 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.