Nordstrom (NYSE:JWN) Given “Market Perform” Rating at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $24.00 price objective on the specialty retailer’s stock. Telsey Advisory Group’s price target would indicate a potential downside of 1.30% from the company’s current price.

Several other research firms also recently commented on JWN. 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 report on Tuesday, November 19th. StockNews.com started coverage on Nordstrom in a report on Wednesday, February 19th. They set a “buy” rating for the company. Bank of America raised their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and increased their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Trading Down 0.0 %

Shares of Nordstrom stock opened at $24.32 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 52 week low of $16.78 and a 52 week high of $24.99. The stock has a 50 day moving average price of $24.17 and a two-hundred day moving average price of $23.20. The stock has a market capitalization of $4.01 billion, a PE ratio of 15.49 and a beta of 2.51.

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 the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the firm posted $0.25 EPS. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its holdings in shares of Nordstrom by 355.9% in the 3rd 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. Spire Wealth Management lifted its position in shares of Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nordstrom during the 4th quarter worth $63,000. Vestcor Inc purchased a new stake in Nordstrom in the 4th quarter worth about $63,000. Finally, Blue Trust Inc. raised its stake in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the period. 88.73% of the stock is currently 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.