Nordstrom (NYSE:JWN) Price Target Lowered to $20.00 at Credit Suisse Group

Nordstrom (NYSE:JWNGet Rating) had its target price decreased by equities research analysts at Credit Suisse Group from $21.00 to $20.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Credit Suisse Group’s target price suggests a potential downside of 7.79% from the company’s previous close.

JWN has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 24th. StockNews.com assumed coverage on Nordstrom in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays decreased their target price on Nordstrom from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, August 25th. Piper Sandler dropped their price target on Nordstrom from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nordstrom from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, November 14th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nordstrom has an average rating of “Hold” and an average price target of $22.79.

Nordstrom Stock Performance

Shares of NYSE:JWN opened at $21.69 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 4.30. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.63 and a beta of 2.17. Nordstrom has a 12 month low of $16.14 and a 12 month high of $29.59. The firm’s 50-day moving average is $19.58 and its 200 day moving average is $21.55.

Nordstrom (NYSE:JWNGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Nordstrom had a return on equity of 57.97% and a net margin of 2.08%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the business earned $0.39 EPS. Nordstrom’s revenue was down 3.8% compared to the same quarter last year. Research analysts predict that Nordstrom will post 2.32 EPS for the current year.

Institutional Trading of Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its position in Nordstrom by 328.6% during the 2nd quarter. Fifth Third Bancorp now owns 6,112 shares of the specialty retailer’s stock valued at $129,000 after buying an additional 4,686 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Nordstrom by 34.6% during the second quarter. EP Wealth Advisors LLC now owns 16,815 shares of the specialty retailer’s stock worth $355,000 after acquiring an additional 4,320 shares during the last quarter. Graham Capital Management L.P. increased its holdings in shares of Nordstrom by 241.8% during the first quarter. Graham Capital Management L.P. now owns 49,188 shares of the specialty retailer’s stock valued at $1,333,000 after acquiring an additional 34,798 shares in the last quarter. Stephens Inc. AR raised its position in shares of Nordstrom by 0.9% in the 1st quarter. Stephens Inc. AR now owns 74,088 shares of the specialty retailer’s stock valued at $2,009,000 after purchasing an additional 659 shares during the last quarter. Finally, Ziegler Capital Management LLC purchased a new stake in Nordstrom during the 1st quarter worth approximately $1,620,000. Hedge funds and other institutional investors own 59.36% of the company’s stock.

About Nordstrom

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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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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