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

Analysts at StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a note issued to investors on Sunday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other research firms also recently weighed in on JWN. Barclays lifted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Bank of America boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.39 on Friday. Nordstrom has a one year low of $17.21 and a one year high of $24.99. The stock has a market cap of $4.02 billion, a P/E ratio of 15.53 and a beta of 2.60. The company has a fifty day moving average price of $24.27 and a two-hundred day moving average price of $23.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results 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. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities analysts predict that Nordstrom will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cooper Creek Partners Management LLC increased its holdings in Nordstrom by 11.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer’s stock worth $90,752,000 after purchasing an additional 372,024 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nordstrom by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,322 shares of the specialty retailer’s stock valued at $78,858,000 after buying an additional 138,900 shares during the period. American Century Companies Inc. raised its holdings in Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after buying an additional 450,539 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in Nordstrom during the 4th quarter worth approximately $61,582,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Nordstrom during the fourth quarter valued at $56,026,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.