Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the specialty retailer’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Barclays increased their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. Citigroup increased their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their price objective for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Nordstrom has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.33 on Wednesday. The stock has a market cap of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The company has a fifty day moving average price of $24.04 and a two-hundred day moving average price of $23.10. Nordstrom has a one year low of $16.78 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts predict that Nordstrom will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Nordstrom

Hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC increased its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the period. Spire Wealth Management increased its holdings in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new position in Nordstrom in the 4th quarter valued at about $63,000. Vestcor Inc bought a new position in Nordstrom in the 4th quarter valued at about $63,000. Finally, Blue Trust Inc. increased its holdings in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares during the period. 88.73% of the stock is owned by institutional investors.

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.