Nordstrom, Inc. (NYSE:JWN) Receives Average Rating of “Reduce” from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have been given a consensus recommendation of “Reduce” by the twelve research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $22.80.

JWN has been the topic of several analyst reports. StockNews.com began coverage on shares of Nordstrom in a report on Tuesday, April 8th. They set a “buy” rating on the stock. Citigroup reissued a “sell” rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th.

Nordstrom Price Performance

Shares of JWN stock opened at $24.06 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The firm has a market cap of $3.97 billion, a P/E ratio of 15.32 and a beta of 2.31. The business’s 50 day moving average price is $24.19 and its 200-day moving average price is $23.68.

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

Hedge Funds Weigh In On Nordstrom

Several large investors have recently modified their holdings of JWN. Versant Capital Management Inc lifted its stake in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 470 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Nordstrom by 48.6% during the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock worth $41,000 after purchasing an additional 553 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Nordstrom by 90.9% in 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 period. Wolverine Asset Management LLC acquired a new position in shares of Nordstrom in the fourth quarter valued at approximately $63,000. Finally, Vestcor Inc purchased a new stake in Nordstrom during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds 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.