Nordstrom (NYSE:JWN) Raised to “Strong-Buy” at StockNews.com

Nordstrom (NYSE:JWN) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

A number of other research analysts also recently issued reports on the stock. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Citigroup boosted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group increased their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Evercore ISI lifted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, TD Cowen increased their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average target price of $21.29.

Nordstrom Stock Down 8.1 %

Shares of NYSE JWN opened at $22.62 on Wednesday. The stock has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The business’s fifty day simple moving average is $22.85 and its 200-day simple moving average is $22.23. Nordstrom has a 12-month low of $14.80 and a 12-month high of $24.99. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the company earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that Nordstrom will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nordstrom

Several hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its holdings in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the period. Atlas Capital Advisors LLC boosted its holdings in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Nordstrom in the second quarter valued at about $39,000. Blue Trust Inc. increased its stake in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Nordstrom during the second quarter worth about $71,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Company Profile

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.