Nordstrom (NYSE:JWN) Rating Increased to Neutral at UBS Group

Nordstrom (NYSE:JWN) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a report released on Friday,Benzinga reports. The brokerage currently has a $24.00 target price on the specialty retailer’s stock, up from their previous target price of $14.50. UBS Group’s price objective suggests a potential downside of 0.46% from the company’s current price.

Other analysts have also recently issued research reports about the company. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Telsey Advisory Group decreased their target price on Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, December 24th. StockNews.com initiated coverage on shares of Nordstrom in a report on Friday. They issued a “buy” rating on the stock. Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI upped their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $21.92.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $24.11 on Friday. The company has a 50 day moving average price of $23.38 and a 200 day moving average price of $22.68. The firm has a market capitalization of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52. 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 has a 52 week low of $16.78 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last posted 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 net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that Nordstrom will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

A number of institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC raised its holdings in 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 purchasing an additional 993 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Nordstrom in the second quarter valued at approximately $71,000. Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares in the last quarter. CWM LLC raised its stake in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after buying an additional 810 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 2,227 shares in the last quarter. 88.73% of the stock is currently 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.