BMO Capital Markets Cuts Nordstrom (NYSE:JWN) Price Target to $20.00

Nordstrom (NYSE:JWN – Get Rating) had its target price decreased by stock analysts at BMO Capital Markets from $23.00 to $20.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 14.48% from the stock’s current price.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, November 14th. Credit Suisse Group dropped their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, November 23rd. Morgan Stanley upped their price objective on Nordstrom from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday, November 28th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Nordstrom from $15.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.75.

Nordstrom Stock Performance

NYSE:JWN opened at $17.47 on Friday. The stock has a fifty day moving average price of $18.29 and a 200-day moving average price of $19.67. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.42 and a beta of 2.17. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.24 and a current ratio of 0.99. Nordstrom has a fifty-two week low of $15.52 and a fifty-two week high of $29.59.

Nordstrom (NYSE:JWN – Get Rating) last released its earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a return on equity of 58.09% and a net margin of 2.08%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities analysts anticipate that Nordstrom will post 2.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of Nordstrom by 3.4% in the first quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock valued at $344,000 after buying an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Nordstrom by 10.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,860 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 453 shares during the period. HighTower Advisors LLC grew its stake in Nordstrom by 0.8% during the first quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock worth $1,592,000 after purchasing an additional 494 shares during the period. Guggenheim Capital LLC grew its stake in Nordstrom by 4.2% during the first quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock worth $380,000 after purchasing an additional 568 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in Nordstrom by 1.3% during the third quarter. Treasurer of the State of North Carolina now owns 47,945 shares of the specialty retailer’s stock worth $802,000 after purchasing an additional 620 shares during the period. Institutional investors and hedge funds own 66.41% of the company’s stock.

Nordstrom Company Profile

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.