Nordstrom (NYSE:JWN) Raised to “Buy” at StockNews.com

Nordstrom (NYSE:JWN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently commented on JWN. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Telsey Advisory Group increased their price target on Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Evercore ISI boosted their price objective on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Barclays raised their target price on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. Finally, Bank of America boosted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus price target of $17.75.

Nordstrom Stock Performance

Nordstrom stock traded down $0.22 during mid-day trading on Tuesday, hitting $21.81. The company had a trading volume of 1,818,908 shares, compared to its average volume of 3,554,093. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 2.60 and a beta of 2.62. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.03. The company’s fifty day moving average is $21.77 and its 200-day moving average is $20.08. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The business had revenue of $3.34 billion during 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%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Equities research analysts predict that Nordstrom will post 1.79 EPS for the current year.

Institutional Trading of Nordstrom

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 shares of Nordstrom in the first quarter valued at $30,000. Hexagon Capital Partners LLC grew its position in Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 869 shares in the last quarter. Spire Wealth Management increased its stake in Nordstrom by 100.0% during the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,100 shares during the period. Blue Trust Inc. lifted its position in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Nordstrom by 1,000.3% in the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 3,391 shares during the period. Hedge funds and other 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.