Nordstrom (NYSE:JWN) PT Raised to $18.00

Nordstrom (NYSE:JWNGet Free Report) had its price objective hoisted by equities researchers at Bank of America from $15.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s price objective suggests a potential downside of 18.55% from the company’s previous close.

Several other equities analysts also recently commented on JWN. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Piper Sandler increased their price target on Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. increased their price target on Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and an average target price of $17.42.

View Our Latest Analysis on Nordstrom

Nordstrom Price Performance

Shares of JWN stock opened at $22.10 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 company has a market cap of $3.61 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.38 and a beta of 2.59. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.53. The business has a fifty day simple moving average of $19.94 and a 200 day simple moving average of $18.72.

Nordstrom (NYSE:JWNGet Free Report) last posted its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 27.21%. Nordstrom’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, sell-side analysts forecast that Nordstrom will post 1.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in JWN. Register Financial Advisors LLC acquired a new stake in Nordstrom in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC grew its stake in Nordstrom by 77.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 869 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Nordstrom in the third quarter valued at approximately $45,000. Spire Wealth Management grew its stake in Nordstrom by 100.0% in the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,100 shares during the period. Finally, CWM LLC grew its stake in Nordstrom by 1,000.3% in the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after acquiring an additional 3,391 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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