Evercore ISI Lowers Nordstrom (NYSE:JWN) Price Target to $35.00

Nordstrom (NYSE:JWN) had its target price lowered by stock analysts at Evercore ISI from $45.00 to $35.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Evercore ISI’s price objective would indicate a potential upside of 53.64% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a report on Friday, August 27th. Citigroup cut their price target on shares of Nordstrom from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Telsey Advisory Group dropped their price target on shares of Nordstrom from $36.00 to $27.00 and set a “market perform” rating on the stock in a research note on Wednesday. KeyCorp reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Nordstrom in a report on Wednesday, August 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nordstrom from $27.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.88.

JWN traded down $9.15 during mid-day trading on Wednesday, reaching $22.78. 753,445 shares of the stock were exchanged, compared to its average volume of 4,131,358. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. The stock has a market capitalization of $3.62 billion, a PE ratio of -2,270.00, a price-to-earnings-growth ratio of 3.74 and a beta of 2.37. The company has a 50 day moving average price of $29.66 and a two-hundred day moving average price of $32.59. Nordstrom has a 1 year low of $23.75 and a 1 year high of $46.45.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 23rd. The specialty retailer reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.54 billion. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Sell-side analysts expect that Nordstrom will post 1.46 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in JWN. Walled Lake Planning & Wealth Management LLC purchased a new stake in Nordstrom in the second quarter worth about $29,000. Mine & Arao Wealth Creation & Management LLC. grew its holdings in Nordstrom by 293.3% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,180 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 880 shares during the period. Captrust Financial Advisors grew its holdings in Nordstrom by 68.4% in the first quarter. Captrust Financial Advisors now owns 1,197 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 486 shares during the period. Kozak & Associates Inc. bought a new position in shares of Nordstrom in the third quarter worth approximately $45,000. Finally, Parallel Advisors LLC lifted its stake in shares of Nordstrom by 122.1% in the second quarter. Parallel Advisors LLC now owns 1,455 shares of the specialty retailer’s stock worth $53,000 after buying an additional 800 shares in the last quarter. Institutional investors own 59.29% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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