Nordstrom Now Covered by Analysts at Pacific Crest (JWN)
Analysts at Pacific Crest assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report issued to clients and investors on Friday, American Banking & Market News reports. The firm set an “outperform” rating and a $67.00 price target on the stock. Pacific Crest’s target price suggests a potential upside of 18.42% from the stock’s previous close.
A number of other firms have also recently commented on JWN. Analysts at Macquarie upgraded shares of Nordstrom (NYSE:JWN) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $66.00 price target on the stock, up previously from $60.00. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Nordstrom (NYSE:JWN) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $69.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom (NYSE:JWN) in a research note to investors on Wednesday, August 21st. They now have a $60.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.69.
Shares of Nordstrom (NYSE:JWN) opened at 56.58 on Friday. Nordstrom has a 52-week low of $50.94 and a 52-week high of $63.34. The stock’s 50-day moving average is $57.27 and its 200-day moving average is $58.08. The company has a market cap of $11.027 billion and a P/E ratio of 14.94.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Nordstrom will post $3.69 earnings per share for the current fiscal year.
In other Nordstrom news, EVP Margaret Myers unloaded 8,670 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $58.25, for a total value of $505,027.50. Following the sale, the executive vice president now directly owns 16,278 shares of the company’s stock, valued at approximately $948,194. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Nordstrom, Inc is a fashion specialty retailer, with 225 the United States stores located in 30 states as of March 16, 2012.
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