Credit Suisse Group assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report issued on Monday. The brokerage set a “neutral” rating and a $54.00 price target on the specialty retailer’s stock. Credit Suisse Group’s target price would indicate a potential upside of 8.32% from the company’s previous close.
JWN has been the topic of several other reports. Piper Jaffray Companies set a $48.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Thursday, March 1st. BMO Capital Markets set a $50.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Friday, January 12th. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, January 15th. Robert W. Baird set a $53.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada set a $49.00 price target on Nordstrom and gave the stock a “hold” rating in a research report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company. Nordstrom has an average rating of “Hold” and an average target price of $48.92.
Nordstrom (NYSE:JWN) traded down $0.14 during midday trading on Monday, hitting $49.85. The company had a trading volume of 1,401,120 shares, compared to its average volume of 2,156,801. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.45 and a current ratio of 1.07. Nordstrom has a 52-week low of $37.79 and a 52-week high of $54.00. The firm has a market cap of $8,290.00, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81.
Several large investors have recently bought and sold shares of JWN. First Trust Advisors LP grew its position in shares of Nordstrom by 7.5% during the 3rd quarter. First Trust Advisors LP now owns 91,164 shares of the specialty retailer’s stock valued at $4,298,000 after acquiring an additional 6,321 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Nordstrom in the 3rd quarter valued at about $409,000. Canada Pension Plan Investment Board lifted its stake in Nordstrom by 227.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 19,047 shares of the specialty retailer’s stock valued at $898,000 after buying an additional 13,235 shares in the last quarter. Stevens Capital Management LP purchased a new position in Nordstrom in the 3rd quarter valued at about $1,426,000. Finally, State of Wisconsin Investment Board lifted its stake in Nordstrom by 28.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 186,036 shares of the specialty retailer’s stock valued at $8,772,000 after buying an additional 41,123 shares in the last quarter. Hedge funds and other institutional investors own 59.01% of the company’s stock.
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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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