Telsey Advisory Group Reiterates Market Perform Rating for Nordstrom (NYSE:JWN)

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $24.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price objective would suggest a potential downside of 1.30% from the stock’s previous close.

JWN has been the subject of a number of other reports. Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. StockNews.com assumed coverage on Nordstrom in a research report on Wednesday, February 19th. They set a “buy” rating for the company. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.17.

Nordstrom Price Performance

Nordstrom stock opened at $24.32 on Tuesday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a fifty day moving average price of $24.17 and a 200-day moving average price of $23.20.

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

Institutional Trading of Nordstrom

Several hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares during the period. Spire Wealth Management boosted its holdings in Nordstrom by 90.9% during the 4th 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 position in Nordstrom during the 4th quarter worth approximately $63,000. Vestcor Inc purchased a new position in Nordstrom in the 4th quarter worth approximately $63,000. Finally, Blue Trust Inc. lifted its position in Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,404 shares during the last quarter. 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.