Nordstrom (NYSE:JWN) Downgraded by Jefferies Financial Group

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.

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 business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $0.22 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. Equities analysts anticipate that Nordstrom will post 1.46 EPS for the current year.

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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Analyst Recommendations for Nordstrom (NYSE:JWN)

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