Nordstrom, Inc. (JWN) Price Target Raised to $47.00
Nordstrom, Inc. (NYSE:JWN) had its price target raised by Wolfe Research from $45.00 to $47.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the specialty retailer’s stock. Wolfe Research’s price objective suggests a potential upside of 4.75% from the stock’s previous close.
JWN has been the subject of several other reports. 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. Gordon Haskett reiterated an “accumulate” rating on shares of Nordstrom in a research report on Friday, June 9th. Vetr upgraded shares of Nordstrom from a “buy” rating to a “strong-buy” rating and set a $53.07 price target for the company in a research report on Tuesday, April 18th. Maxim Group set a $61.00 price target on shares of Nordstrom and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, J P Morgan Chase & Co reiterated an “underweight” rating and issued a $48.00 price target on shares of Nordstrom in a research report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.34.
Nordstrom (NYSE JWN) traded up 0.11% on Friday, reaching $44.92. 4,551,076 shares of the company traded hands. The stock’s 50-day moving average is $47.39 and its 200-day moving average is $45.51. Nordstrom has a 1-year low of $39.53 and a 1-year high of $62.82. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 21.03 and a beta of 0.83.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a net margin of 2.51% and a return on equity of 69.16%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. Equities research analysts expect that Nordstrom will post $2.96 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. Gemmer Asset Management LLC increased its position in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 18 shares during the period. Global X Management Co. LLC increased its position in Nordstrom by 0.9% in the second quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock valued at $315,000 after buying an additional 59 shares during the period. Mosaic Family Wealth LLC increased its position in Nordstrom by 3.8% in the first quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 109 shares during the period. FineMark National Bank & Trust increased its position in Nordstrom by 2.1% in the second quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock valued at $294,000 after buying an additional 128 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Nordstrom by 1.5% in the second quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock valued at $455,000 after buying an additional 140 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom Company Profile
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.
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