Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

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

Several other research firms have also recently issued reports on JWN. Citigroup reissued a “sell” rating and set a $22.00 target price (down from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom has an average rating of “Hold” and a consensus target price of $22.80.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $24.59 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business’s 50 day simple moving average is $24.13 and its two-hundred day simple moving average is $23.90. The stock has a market capitalization of $4.11 billion, a P/E ratio of 15.66 and a beta of 2.36. Nordstrom has a one year low of $19.45 and a one year high of $24.99.

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 business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Madison Investment Advisors LLC purchased a new stake in Nordstrom in the fourth quarter worth $3,767,000. Charles Schwab Investment Management Inc. grew its stake in Nordstrom by 20.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after purchasing an additional 289,596 shares during the period. Avior Wealth Management LLC purchased a new stake in Nordstrom in the fourth quarter worth $415,000. Norges Bank purchased a new stake in Nordstrom in the fourth quarter worth $33,480,000. Finally, Sei Investments Co. grew its stake in Nordstrom by 91.5% in the fourth quarter. Sei Investments Co. now owns 52,202 shares of the specialty retailer’s stock worth $1,261,000 after purchasing an additional 24,944 shares during the period. 88.73% of the stock is owned by hedge funds and other 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.