Nordstrom (NYSE:JWN) Price Target Raised to $23.00 at Citigroup

Nordstrom (NYSE:JWN) had its price target hoisted by investment analysts at Citigroup from $22.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Citigroup’s price target suggests a potential upside of 2.63% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. TD Cowen upped their target price on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Bank of America upped their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, Telsey Advisory Group lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and an average price target of $20.58.

Nordstrom Stock Up 0.5 %

Shares of JWN stock traded up $0.11 during mid-day trading on Tuesday, hitting $22.41. The stock had a trading volume of 348,037 shares, compared to its average volume of 3,042,700. The firm has a market capitalization of $3.68 billion, a P/E ratio of 13.11 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom has a 12-month low of $13.68 and a 12-month high of $24.93. The firm’s 50-day moving average is $22.74 and its two-hundred day moving average is $22.09.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. On average, analysts predict that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after acquiring an additional 5,407 shares in the last quarter. MML Investors Services LLC increased its stake in Nordstrom by 24.7% in the third quarter. MML Investors Services LLC now owns 20,097 shares of the specialty retailer’s stock valued at $452,000 after purchasing an additional 3,981 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Nordstrom during the third quarter worth approximately $215,000. XTX Topco Ltd lifted its position in shares of Nordstrom by 87.9% during the 3rd quarter. XTX Topco Ltd now owns 40,353 shares of the specialty retailer’s stock worth $908,000 after buying an additional 18,881 shares during the last quarter. Finally, Whitebox Advisors LLC lifted its position in shares of Nordstrom by 4.3% during the 3rd quarter. Whitebox Advisors LLC now owns 108,957 shares of the specialty retailer’s stock worth $2,450,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds 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.