Nordstrom’s (JWN) “Hold” Rating Reiterated at Piper Jaffray Companies
Nordstrom, Inc. (NYSE:JWN)‘s stock had its “hold” rating restated by analysts at Piper Jaffray Companies in a report released on Thursday.
JWN has been the topic of a number of other research reports. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a “hold” rating and set a $45.00 price target on shares of Nordstrom in a report on Thursday, October 5th. KeyCorp set a $55.00 price objective on shares of Nordstrom and gave the company a “buy” rating in a research report on Wednesday, October 11th. J P Morgan Chase & Co restated an “underweight” rating and issued a $48.00 price objective on shares of Nordstrom in a research report on Friday, July 14th. Finally, Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.77.
Shares of Nordstrom (NYSE:JWN) traded down 0.67% during trading on Thursday, hitting $41.73. The stock had a trading volume of 1,123,742 shares. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The stock’s 50-day moving average is $45.18 and its 200-day moving average is $45.70. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 19.77 and a beta of 0.85.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company posted $0.67 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Nordstrom will post $2.98 EPS for the current year.
Several institutional investors have recently modified their holdings of JWN. Gemmer Asset Management LLC raised its position in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 18 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Nordstrom by 55.4% during the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after purchasing an additional 942 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Nordstrom by 6,460.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 2,778 shares during the last quarter. Sei Investments Co. raised its position in shares of Nordstrom by 32.0% during the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 771 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its position in shares of Nordstrom by 8.2% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 63.00% of the company’s stock.
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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