StockNews.com Initiates Coverage on Nordstrom (NYSE:JWN)

Equities research analysts at StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Saturday. The brokerage set a “buy” rating on the specialty retailer’s stock.

A number of other analysts have also recently weighed in on JWN. Citigroup restated a “sell” rating and set a $22.00 target price (down from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Evercore ISI raised their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. Finally, Barclays upped their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

Nordstrom Stock Up 0.1 %

JWN opened at $24.40 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a market capitalization of $4.08 billion, a PE ratio of 15.54 and a beta of 2.36. The stock’s fifty day moving average is $24.11 and its 200-day moving average is $23.84. Nordstrom has a one year low of $19.45 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. On average, equities analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Trading of Nordstrom

Several institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new position in Nordstrom in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings in shares of Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 470 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Nordstrom by 48.6% in the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock worth $41,000 after acquiring an additional 553 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Nordstrom during the first quarter worth $45,000. Finally, Spire Wealth Management boosted its position in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.