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.
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
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.
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