Nordstrom Given “Buy” Rating at Deutsche Bank (JWN)
Nordstrom (NYSE:JWN)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank in a report issued on Friday. They currently have a $77.00 price target on the stock, down from their previous price target of $78.00. Deutsche Bank’s price target suggests a potential upside of 12.10% from the company’s current price.
Nordstrom (NYSE:JWN) traded down 4.05% during mid-day trading on Friday, hitting $65.909. 2,652,604 shares of the company’s stock traded hands. Nordstrom has a one year low of $54.90 and a one year high of $70.71. The stock’s 50-day moving average is $68.70 and its 200-day moving average is $64.24. The company has a market cap of $12.521 billion and a P/E ratio of 18.53. Nordstrom also saw some unusual options trading on Tuesday. Traders acquired 3,683 put options on the company. This is an increase of approximately 528% compared to the typical daily volume of 586 put options.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.39 billion. Analysts expect that Nordstrom will post $3.90 EPS for the current fiscal year.
JWN has been the subject of a number of other recent research reports. Analysts at Topeka Capital Markets raised their price target on shares of Nordstrom from $75.00 to $78.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating in a research note on Monday, June 23rd. They now have a $74.00 price target on the stock. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Nordstrom currently has an average rating of “Hold” and a consensus price target of $70.19.
Nordstrom, Inc is a fashion specialty retailer. As of March 18, 2013, the Company operates 242 United States stores located in 31 states, as well as an e-commerce business through nordstrom.
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