Nordstrom’s (JWN) Sell Rating Reiterated at Citigroup

Nordstrom (NYSE:JWN)‘s stock had its “sell” rating reaffirmed by research analysts at Citigroup in a report released on Friday,Benzinga reports. They presently have a $22.00 price target on the specialty retailer’s stock, down from their previous price target of $25.00. Citigroup’s target price points to a potential downside of 8.31% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Stock Down 1.9 %

JWN opened at $24.00 on Friday. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99. The business has a 50-day moving average of $24.31 and a two-hundred day moving average of $23.61. 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 stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 15.28 and a beta of 2.60.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. On average, research analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of hedge funds have recently made changes to their positions in JWN. Versant Capital Management Inc boosted its stake in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 470 shares during the last quarter. Spire Wealth Management raised its stake in shares of Nordstrom by 90.9% in the 4th 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 in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nordstrom during the fourth quarter worth about $63,000. Vestcor Inc acquired a new position in Nordstrom in the fourth quarter worth about $63,000. Finally, Atlas Capital Advisors Inc. increased its holdings in Nordstrom by 45.5% in 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 last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.