Nordstrom (NYSE:JWN) Lowered to “Reduce” at Gordon Haskett

Nordstrom (NYSE:JWN – Get Rating) was downgraded by Gordon Haskett from a “hold” rating to a “reduce” rating in a research note issued to investors on Friday, The Fly reports. They currently have a $13.00 price target on the specialty retailer’s stock, down from their previous price target of $20.00. Gordon Haskett’s price objective would suggest a potential downside of 25.59% from the company’s previous close.

JWN has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Nordstrom from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Friday. KeyCorp cut their target price on Nordstrom from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley increased their target price 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 cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. Finally, BMO Capital Markets cut their target price on Nordstrom from $23.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.75.

Nordstrom Trading Up 0.1 %

Shares of Nordstrom stock opened at $17.47 on Friday. The company’s fifty day simple moving average is $18.29 and its 200-day simple moving average is $19.67. The stock has a market capitalization of $2.80 billion, a PE ratio of 8.74, a P/E/G ratio of 0.42 and a beta of 2.17. Nordstrom has a 1-year low of $15.52 and a 1-year high of $29.59. The company has a debt-to-equity ratio of 4.71, a current ratio of 0.99 and a quick ratio of 0.24.

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

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Family Investment Center Inc. purchased a new position in shares of Nordstrom in the 4th quarter worth approximately $237,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Nordstrom by 37.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 183,687 shares of the specialty retailer’s stock worth $2,965,000 after purchasing an additional 50,335 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of Nordstrom by 4.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 174,459 shares of the specialty retailer’s stock worth $2,816,000 after purchasing an additional 7,486 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Nordstrom in the 4th quarter worth approximately $37,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Nordstrom during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 66.41% of the company’s stock.

About Nordstrom

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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.