Nordstrom (NYSE:JWN) Price Target Cut to $17.00 by Analysts at Credit Suisse Group

Nordstrom (NYSE:JWN – Get Rating) had its target price lowered by investment analysts at Credit Suisse Group from $20.00 to $17.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Credit Suisse Group’s target price indicates a potential downside of 2.69% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets decreased their price target on Nordstrom from $23.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Nordstrom from $15.00 to $13.00 and set an “underweight” rating on the stock in a research note on Friday. Morgan Stanley upped their target price on Nordstrom from $18.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, November 28th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Monday, December 12th. Finally, 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 report on Monday, November 14th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.75.

Nordstrom Stock Performance

Shares of JWN stock opened at $17.47 on Friday. The company has a market capitalization of $2.80 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.42 and a beta of 2.17. The business’s 50 day moving average is $18.29 and its two-hundred day moving average is $19.67. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 4.71. Nordstrom has a 12-month low of $15.52 and a 12-month high of $29.59.

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

Hedge Funds Weigh In On Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sandy Spring Bank boosted its holdings in Nordstrom by 500.0% in the second quarter. Sandy Spring Bank now owns 1,200 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 1,000 shares during the last quarter. Charter Oak Capital Management LLC acquired a new stake in shares of Nordstrom during the second quarter worth about $34,000. Marshall & Sullivan Inc. WA acquired a new stake in Nordstrom in the 4th quarter valued at approximately $37,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Nordstrom during the 4th quarter worth approximately $40,000. Finally, Bartlett & Co. LLC boosted its position in shares of Nordstrom by 200.0% in the second quarter. Bartlett & Co. LLC now owns 1,950 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 1,300 shares during the period. 66.41% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Company Profile

(Get Rating)

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.