Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Wednesday. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other equities analysts also recently issued reports on the company. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Citigroup reaffirmed a “sell” rating and set a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, Barclays boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and an average target price of $22.80.

Nordstrom Price Performance

NYSE JWN opened at $24.06 on Wednesday. Nordstrom has a one year low of $17.21 and a one year high of $24.99. The stock has a 50-day moving average of $24.19 and a 200 day moving average of $23.68. 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 $4.02 billion, a price-to-earnings ratio of 15.32 and a beta of 2.31.

Nordstrom (NYSE:JWN) last announced its quarterly 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. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. On average, sell-side analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Nordstrom

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake 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 buying an additional 470 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock valued at $2,845,000 after buying an additional 512 shares in the last quarter. Parallel Advisors LLC raised 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 valued at $41,000 after buying an additional 553 shares during the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of Nordstrom by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock worth $465,000 after buying an additional 558 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Nordstrom by 1.4% in the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after buying an additional 617 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.