Nordstrom, Inc. (NYSE:JWN) has been assigned a $42.00 target price by equities researchers at Piper Jaffray Companies in a report released on Tuesday. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ target price would suggest a potential downside of 12.24% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Nordstrom from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Citigroup Inc. cut their target price on shares of Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 12th. Cowen and Company reiterated an “outperform” rating and issued a $49.00 target price on shares of Nordstrom in a research report on Friday, June 9th. Northcoast Research reiterated a “neutral” rating on shares of Nordstrom in a research report on Tuesday, May 16th. Finally, Maxim Group set a $61.00 target price on shares of Nordstrom and gave the stock a “buy” rating in a research report on Thursday, May 4th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.23.

Shares of Nordstrom (NYSE:JWN) traded down 0.48% during mid-day trading on Tuesday, hitting $47.86. 1,004,953 shares of the stock traded hands. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 22.41 and a beta of 0.83. The stock has a 50-day moving average of $46.98 and a 200-day moving average of $45.29. Nordstrom has a 52 week low of $39.05 and a 52 week high of $62.82.

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Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Nordstrom by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 672,105 shares of the specialty retailer’s stock valued at $32,216,000 after buying an additional 2,373 shares in the last quarter. FMR LLC increased its position in shares of Nordstrom by 42.2% in the fourth quarter. FMR LLC now owns 181,943 shares of the specialty retailer’s stock valued at $8,720,000 after buying an additional 54,007 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Nordstrom during the fourth quarter valued at about $312,000. Garde Capital Inc. purchased a new position in shares of Nordstrom during the fourth quarter valued at about $324,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Nordstrom during the fourth quarter valued at about $404,000. 64.21% of the stock is owned by hedge funds and other institutional investors.

About Nordstrom

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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