Nordstrom (NYSE:JWN) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Price Targets.com reports. They currently have a $30.00 price target on the specialty retailer’s stock, down from their prior price target of $48.00. Jefferies Financial Group’s price target indicates a potential downside of 6.04% from the company’s previous close.
JWN has been the subject of a number of other reports. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Friday, August 27th. KeyCorp reissued a “buy” rating and issued a $45.00 price target on shares of Nordstrom in a report on Wednesday, August 25th. Morgan Stanley downgraded shares of Nordstrom from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $36.00 to $27.00 in a report on Wednesday, August 25th. Credit Suisse Group cut their price target on shares of Nordstrom from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, August 25th. Finally, TheStreet raised shares of Nordstrom from a “d+” rating to a “c” rating in a report on Tuesday, August 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.60.
JWN stock opened at $31.93 on Wednesday. The company has a market capitalization of $5.07 billion, a P/E ratio of -3,193.00, a PEG ratio of 3.74 and a beta of 2.37. The company has a 50-day simple moving average of $29.66 and a 200 day simple moving average of $32.59. Nordstrom has a fifty-two week low of $23.75 and a fifty-two week high of $46.45. The company has a quick ratio of 0.33, a current ratio of 0.90 and a debt-to-equity ratio of 10.63.
Hedge funds have recently bought and sold shares of the business. Madison Asset Management LLC increased its holdings in shares of Nordstrom by 188.4% in the 2nd quarter. Madison Asset Management LLC now owns 114,800 shares of the specialty retailer’s stock valued at $4,198,000 after purchasing an additional 75,000 shares during the period. Amalgamated Bank increased its holdings in shares of Nordstrom by 566.7% in the 2nd quarter. Amalgamated Bank now owns 90,772 shares of the specialty retailer’s stock valued at $3,320,000 after purchasing an additional 77,157 shares during the period. Cinctive Capital Management LP increased its holdings in shares of Nordstrom by 31.2% in the 2nd quarter. Cinctive Capital Management LP now owns 65,707 shares of the specialty retailer’s stock valued at $2,403,000 after purchasing an additional 15,641 shares during the period. LPL Financial LLC increased its holdings in shares of Nordstrom by 36.7% in the 2nd quarter. LPL Financial LLC now owns 63,256 shares of the specialty retailer’s stock valued at $2,313,000 after purchasing an additional 16,977 shares during the period. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Nordstrom in the 2nd quarter valued at about $27,499,000. 59.29% of the stock is owned by institutional investors.
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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