Nordstrom (NYSE:JWN) Now Covered by StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the specialty retailer’s stock.

Several other analysts have also recently commented on JWN. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Evercore ISI lifted their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.1 %

Shares of JWN stock opened at $24.47 on Monday. The stock has a market cap of $4.04 billion, a P/E ratio of 15.58 and a beta of 2.60. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The business has a fifty day simple moving average of $24.31 and a 200-day simple moving average of $23.61. 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 quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. On average, analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently bought and sold shares of the company. Spire Wealth Management grew its position 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 worth $51,000 after acquiring an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nordstrom in the 4th quarter worth about $63,000. Vestcor Inc acquired a new position in shares of Nordstrom in the 4th quarter valued at about $63,000. Atlas Capital Advisors Inc. grew its position in shares of Nordstrom by 45.5% during the 4th 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. Finally, KBC Group NV lifted its holdings in Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 1,287 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

About Nordstrom

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.