Nordstrom Inc. (JWN) Downgraded to Hold at Vetr Inc.
Nordstrom Inc. (NYSE:JWN) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a $43.19 price target on the stock. Vetr‘s price objective points to a potential downside of 19.47% from the stock’s current price.
A number of other analysts have also commented on JWN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 target price (up from $60.00) on shares of Nordstrom in a research report on Tuesday, March 29th. Topeka Capital Markets decreased their target price on Nordstrom from $69.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 13th. Deutsche Bank AG decreased their target price on Nordstrom from $57.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 13th. Maxim Group assumed coverage on Nordstrom in a research report on Wednesday, June 15th. They issued a “buy” rating and a $50.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Nordstrom in a research report on Saturday, April 9th. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.23.
Nordstrom (NYSE:JWN) traded down 0.09% during midday trading on Monday, reaching $53.63. The company had a trading volume of 3,297,810 shares. The stock has a 50-day moving average price of $51.65 and a 200 day moving average price of $46.49. Nordstrom has a 12-month low of $35.01 and a 12-month high of $69.54. The company has a market capitalization of $9.30 billion, a PE ratio of 22.85 and a beta of 1.04.
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Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The firm earned $3.65 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the company posted $0.93 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts forecast that Nordstrom will post $2.73 EPS for the current year.
In other Nordstrom news, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $52.00, for a total transaction of $274,040.00. Following the completion of the sale, the insider now directly owns 68,088 shares in the company, valued at $3,540,576. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel F. Little sold 5,277 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $55.00, for a total transaction of $290,235.00. Following the sale, the insider now owns 68,223 shares of the company’s stock, valued at $3,752,265. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Nordstrom by 5.6% in the second quarter. Pacer Advisors Inc. now owns 2,632 shares of the company’s stock valued at $100,000 after buying an additional 140 shares during the last quarter. Evercore Wealth Management LLC raised its stake in Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock valued at $106,000 after buying an additional 231 shares during the last quarter. WFG Advisors LP raised its stake in Nordstrom by 51.7% in the second quarter. WFG Advisors LP now owns 2,906 shares of the company’s stock valued at $111,000 after buying an additional 991 shares during the last quarter. Blue Chip Partners Inc. acquired a new stake in Nordstrom during the second quarter valued at about $114,000. Finally, Synovus Financial Corp raised its stake in Nordstrom by 66.1% in the second quarter. Synovus Financial Corp now owns 3,046 shares of the company’s stock valued at $116,000 after buying an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 65.48% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
To view Vetr’s full report, visit Vetr’s official website.
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