Nordstrom (NYSE:JWN) Price Target Raised to $22.00 at Evercore ISI

Nordstrom (NYSE:JWN) had its price target lifted by Evercore ISI from $20.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective indicates a potential downside of 2.74% from the company’s current price.

JWN has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday. TD Cowen lifted their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Citigroup boosted their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets increased their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.29.

Nordstrom Stock Down 8.1 %

JWN opened at $22.62 on Wednesday. The stock’s fifty day moving average is $22.85 and its 200-day moving average is $22.23. Nordstrom has a one year low of $14.80 and a one year high of $24.99. The company has a market capitalization of $3.71 billion, a PE ratio of 13.23 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the business earned $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Nordstrom will post 1.91 EPS for the current fiscal year.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

Hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its holdings in Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after buying an additional 520 shares during the last quarter. Atlas Capital Advisors LLC grew its position in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Nordstrom by 7.3% during the 3rd 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 last quarter. Stephens Inc. AR raised its holdings in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares in the last quarter. Finally, CWM LLC lifted 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 valued at $82,000 after purchasing an additional 810 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Company Profile

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.