Nordstrom (JWN) Upgraded at Zacks Investment Research

Nordstrom (NYSE:JWN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $56.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.07% from the company’s previous close.

According to Zacks, “Nordstrom has been gaining from the smooth execution of customer strategy along with disciplined inventory and expense management. Also, the company is enhancing market share through persistent store expansion and strengthening capabilities through further investments, particularly in digital growth. Notably, its third-quarter fiscal 2017 results marked sixth straight time of earnings beat, sales topped estimates for the second consecutive quarter. Moreover, the company’s solid holiday season feat and raised earnings guidance for fiscal 2017, also increases hopes for a spectacular 2018. However, the company has underperformed the industry in the last six months due to higher expenses. Higher investments toward occupancy, technology, supply chain and marketing continue to weigh upon near term costs and margins. Further, the company expects these hurdles to continue hurting results in fiscal 2017.”

A number of other research firms have also issued reports on JWN. Robert W. Baird reduced their target price on shares of Nordstrom from $50.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. KeyCorp set a $55.00 target price on shares of Nordstrom and gave the company a “buy” rating in a report on Wednesday, October 11th. Bank of America reduced their target price on shares of Nordstrom from $40.00 to $35.00 and set an “underperform” rating on the stock in a report on Friday, November 10th. ValuEngine lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada restated a “hold” rating and issued a $45.00 target price on shares of Nordstrom in a report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. Nordstrom presently has a consensus rating of “Hold” and an average price target of $47.11.

Nordstrom (JWN) traded up $1.73 during trading on Monday, hitting $51.82. 5,201,500 shares of the company traded hands, compared to its average volume of 2,578,144. Nordstrom has a 1-year low of $37.79 and a 1-year high of $53.00. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The stock has a market cap of $8,630.00, a price-to-earnings ratio of 18.18, a PEG ratio of 2.90 and a beta of 0.89.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. research analysts forecast that Nordstrom will post 2.98 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. San Francisco Sentry Investment Group CA increased its position in Nordstrom by 1,752.0% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 2,190 shares in the last quarter. Advisory Services Network LLC increased its position in Nordstrom by 41.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after purchasing an additional 1,018 shares in the last quarter. Thrivent Financial For Lutherans acquired a new stake in Nordstrom during the 2nd quarter worth approximately $202,000. Nordea Investment Management AB increased its position in Nordstrom by 7.2% during the 2nd quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock worth $204,000 after purchasing an additional 287 shares in the last quarter. Finally, Tiedemann Wealth Management LLC increased its position in Nordstrom by 15.4% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 10,600 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 1,418 shares in the last quarter. 57.70% of the stock is owned by institutional investors.

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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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