StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

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

Other equities analysts have also recently issued reports about the company. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price target for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.1 %

Nordstrom stock opened at $24.39 on Friday. 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 firm’s 50-day moving average is $24.27 and its 200-day moving average is $23.52. Nordstrom has a 1 year low of $17.21 and a 1 year high of $24.99. The company has a market cap of $4.02 billion, a P/E ratio of 15.53 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. The business 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, equities analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC increased its holdings in shares of Nordstrom by 9.1% during the third quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after buying an additional 1,000 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Nordstrom during the third quarter valued at approximately $212,000. Charles Schwab Investment Management Inc. increased its position in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nordstrom by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock worth $6,985,000 after purchasing an additional 7,139 shares during the period. Finally, Verition Fund Management LLC raised its holdings in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares during the period. Institutional investors 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.