Nordstrom (NYSE:JWN) Stock Rating Upgraded by StockNews.com

Nordstrom (NYSE:JWN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities research analysts have also issued reports on JWN. Citigroup decreased their price target on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Bank of America raised their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research note on Friday, May 31st. The Goldman Sachs Group boosted their price objective on shares of Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $17.00 price objective (down from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.42.

Nordstrom Trading Up 0.7 %

JWN opened at $21.60 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.54. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 2.46 and a beta of 2.62. The company has a 50-day simple moving average of $21.10 and a 200 day simple moving average of $19.66.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. Nordstrom’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. Analysts predict that Nordstrom will post 1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in Nordstrom in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC increased its position in shares of Nordstrom by 77.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 869 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Nordstrom by 100.0% in the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,100 shares during the last quarter. CWM LLC lifted its position in Nordstrom by 1,000.3% in the 1st quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Nordstrom by 217.5% during the 1st quarter. Acadian Asset Management LLC now owns 4,670 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 3,199 shares during the last quarter. Institutional investors 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.