Nordstrom (JWN) Rating Lowered to Hold at William Blair

Nordstrom (NYSE:JWN) was downgraded by analysts at William Blair to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently weighed in on JWN. Royal Bank of Canada reiterated a “hold” rating and set a $45.00 target price on shares of Nordstrom in a research report on Thursday, October 5th. KeyCorp set a $55.00 price objective on Nordstrom and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies restated a “hold” rating on shares of Nordstrom in a research report on Thursday, October 19th. Zacks Investment Research downgraded Nordstrom from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird restated a “hold” rating and set a $50.00 price objective on shares of Nordstrom in a research report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.43.

Shares of Nordstrom (NYSE JWN) opened at $52.82 on Tuesday. The firm has a market capitalization of $8,662.29, a price-to-earnings ratio of 18.60, a PEG ratio of 2.91 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.30 and a debt-to-equity ratio of 3.14. Nordstrom has a 1 year low of $37.79 and a 1 year high of $53.00.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. sell-side analysts anticipate that Nordstrom will post 2.98 earnings per share for the current year.

Several hedge funds have recently modified their holdings of JWN. Vanguard Group Inc. increased its stake in shares of Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the specialty retailer’s stock valued at $526,621,000 after buying an additional 1,945,151 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Nordstrom by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after buying an additional 2,985,551 shares during the period. BlackRock Inc. increased its stake in shares of Nordstrom by 1.9% in the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock valued at $390,843,000 after buying an additional 150,539 shares during the period. State Street Corp increased its stake in shares of Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Nordstrom by 26.4% during the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the specialty retailer’s stock worth $222,779,000 after purchasing an additional 897,203 shares during the period. 57.96% of the stock is owned by institutional investors.

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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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