Nordstrom (NYSE:JWN) Rating Reiterated by Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating restated by investment analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They currently have a $19.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price target would suggest a potential upside of 0.42% from the company’s previous close.

JWN has been the subject of a number of other research reports. Citigroup lowered their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. JPMorgan Chase & Co. upped their target price on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. Piper Sandler upped their target price on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group increased their price target on Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.54.

Nordstrom Price Performance

Shares of JWN stock opened at $18.92 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.53. The company has a market cap of $3.09 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.12 and a beta of 2.59. The business has a fifty day simple moving average of $19.24 and a 200 day simple moving average of $17.37.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the company earned $0.74 EPS. Nordstrom’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Nordstrom will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock worth $174,992,000 after acquiring an additional 131,102 shares in the last quarter. BlackRock Inc. boosted its holdings in Nordstrom by 1.8% in the second quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock worth $208,477,000 after acquiring an additional 182,466 shares in the last quarter. State Street Corp boosted its holdings in Nordstrom by 70.0% in the second quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock worth $176,866,000 after acquiring an additional 3,556,576 shares in the last quarter. Cooper Creek Partners Management LLC boosted its holdings in Nordstrom by 42.4% in the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after acquiring an additional 1,163,437 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after acquiring an additional 975,918 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.