Telsey Advisory Group Trims Nordstrom (NYSE:JWN) Target Price to $19.00

Nordstrom (NYSE:JWN – Get Rating) had its target price reduced by stock analysts at Telsey Advisory Group from $25.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s target price would suggest a potential upside of 8.76% from the stock’s previous close. Telsey Advisory Group also issued estimates for Nordstrom’s Q1 2024 earnings at $0.03 EPS.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Nordstrom from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Monday, November 28th. JPMorgan Chase & Co. lowered their price objective on shares of Nordstrom from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday. StockNews.com cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, December 12th. BMO Capital Markets reduced their price objective on shares of Nordstrom from $23.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Piper Sandler cut shares of Nordstrom from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $20.00 in a research note on Thursday, January 5th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.75.

Nordstrom Stock Performance

Shares of NYSE:JWN opened at $17.47 on Friday. The firm’s 50 day simple moving average is $18.29 and its 200-day simple moving average is $19.67. 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 one year low of $15.52 and a one year high of $29.59. The firm has a market cap of $2.80 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.42 and a beta of 2.17.

Nordstrom (NYSE:JWN – Get Rating) last released its earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Nordstrom had a net margin of 2.08% and a return on equity of 58.09%. The business 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 company earned $0.39 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities analysts predict that Nordstrom will post 2.4 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently bought and sold shares of JWN. Family Investment Center Inc. acquired a new position in Nordstrom in the 4th quarter worth about $237,000. Crossmark Global Holdings Inc. increased its stake in shares of Nordstrom by 37.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 183,687 shares of the specialty retailer’s stock valued at $2,965,000 after buying an additional 50,335 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Nordstrom by 4.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 174,459 shares of the specialty retailer’s stock valued at $2,816,000 after buying an additional 7,486 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Nordstrom in the fourth quarter valued at about $37,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Nordstrom in the fourth quarter valued at about $40,000. Institutional investors 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.