Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a report released on Wednesday morning. The firm issued a buy rating on the specialty retailer’s stock.

Other equities analysts also recently issued research reports about the company. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. Citigroup reissued a “sell” rating and issued a $22.00 price target (down from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Barclays raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus target price of $22.80.

Nordstrom Stock Performance

NYSE JWN opened at $23.86 on Wednesday. The company has a 50-day simple moving average of $24.18 and a two-hundred day simple moving average of $23.68. Nordstrom has a 12-month low of $17.63 and a 12-month high of $24.99. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 15.20 and a beta of 2.31. 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 issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, equities analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted 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 period. Parallel Advisors LLC increased its position in Nordstrom by 48.6% during the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 553 shares during the last quarter. Spire Wealth Management lifted its holdings in Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom during the 4th quarter valued at about $63,000. Finally, Vestcor Inc purchased a new stake in shares of Nordstrom in the 4th quarter worth $63,000. 88.73% of the stock is owned by institutional investors.

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.