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

Stock analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note issued on Wednesday. The firm set a “buy” rating on the specialty retailer’s stock.

Several other analysts have also recently weighed in on JWN. Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America raised their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Finally, Barclays upped their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Trading Up 0.1 %

Shares of NYSE:JWN opened at $24.35 on Wednesday. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The business has a 50 day moving average of $24.09 and a 200-day moving average of $23.13. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The stock has a market cap of $4.02 billion, a PE ratio of 15.51 and a beta of 2.51.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. As a group, equities research analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC grew its holdings in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the last quarter. Spire Wealth Management grew its stake in shares of Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom during the fourth quarter worth $63,000. Vestcor Inc acquired a new position in shares of Nordstrom during the fourth quarter worth $63,000. Finally, CWM LLC lifted its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

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.