Nordstrom (NYSE:JWN) Given Market Perform Rating at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $19.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 0.42% from the company’s current price.

A number of other research firms have also weighed in on JWN. JPMorgan Chase & Co. boosted their target price on Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their target price on Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Piper Sandler boosted their target price on Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Barclays boosted their price target on Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.54.

Nordstrom Trading Up 1.0 %

Shares of JWN stock opened at $18.92 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The business has a 50-day moving average price of $19.24 and a two-hundred day moving average price of $17.37. Nordstrom has a 12-month low of $12.88 and a 12-month high of $23.53. The firm has a market cap of $3.09 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.12 and a beta of 2.59.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the company posted $0.74 EPS. Nordstrom’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that Nordstrom will post 1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Nordstrom during the 2nd quarter worth approximately $29,000. Register Financial Advisors LLC bought a new stake in shares of Nordstrom in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC boosted its position in shares of Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 869 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Nordstrom by 315.9% in the 1st quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Nordstrom by 44.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 849 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.