Nordstrom, Inc. (JWN) Given a $55.00 Price Target at KeyCorp
Nordstrom, Inc. (NYSE:JWN) has been given a $55.00 target price by equities research analysts at KeyCorp in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. KeyCorp’s price objective would indicate a potential upside of 28.15% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $45.00 price objective on shares of Nordstrom in a report on Thursday, October 5th. Cowen and Company reissued an “outperform” rating and issued a $53.00 price objective (up previously from $49.00) on shares of Nordstrom in a report on Wednesday, September 13th. Gordon Haskett lowered shares of Nordstrom from an “accumulate” rating to a “hold” rating in a report on Wednesday, September 13th. William Blair reissued an “outperform” rating on shares of Nordstrom in a report on Tuesday, September 12th. Finally, ValuEngine lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company. Nordstrom currently has an average rating of “Hold” and an average target price of $47.77.
Nordstrom (NYSE JWN) traded down 0.79% during trading on Wednesday, hitting $42.58. 1,951,875 shares of the company were exchanged. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 20.17 and a beta of 0.85. The stock’s 50-day moving average is $45.59 and its 200-day moving average is $45.81. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Nordstrom’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Nordstrom will post $2.98 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 236 shares in the last quarter. Gemmer Asset Management LLC raised its holdings in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 18 shares in the last quarter. NEXT Financial Group Inc raised its holdings in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after acquiring an additional 942 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Nordstrom by 32.0% in the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 771 shares in the last quarter. 63.08% 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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