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

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average recommendation of “Reduce” from the twelve analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $22.80.

JWN has been the topic of a number of recent analyst reports. Wall Street Zen initiated coverage on Nordstrom in a research note on Sunday, May 18th. They set a “buy” rating on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Finally, Citigroup reissued a “sell” rating and set a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in Nordstrom in the 1st quarter valued at $25,000. Versant Capital Management Inc increased its holdings in Nordstrom by 40.9% in the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 470 shares in the last quarter. Parallel Advisors LLC increased its holdings in Nordstrom by 48.6% in the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after purchasing an additional 553 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Nordstrom in the 1st quarter valued at $45,000. Finally, Spire Wealth Management increased its holdings in Nordstrom by 90.9% in the 4th 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 in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Trading Up 0.1%

Shares of Nordstrom stock opened at $24.68 on Wednesday. Nordstrom has a 1 year low of $19.45 and a 1 year high of $24.99. The company has a market capitalization of $4.13 billion, a P/E ratio of 15.72 and a beta of 2.36. The business has a 50 day moving average price of $24.22 and a 200 day moving average price of $24.05. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share 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 company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Sell-side analysts anticipate that Nordstrom will post 1.97 EPS for the current fiscal year.

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.