Nordstrom, Inc. (NYSE:JWN) has earned a consensus recommendation of “Hold” from the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $39.06.
JWN has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Piper Jaffray Companies dropped their price target on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. UBS Group lowered shares of Nordstrom from a “buy” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $33.00 in a research report on Tuesday, July 2nd. Bank of America dropped their price target on shares of Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 22nd. Finally, Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price target on the stock in a research report on Thursday, June 20th.
Shares of NYSE JWN traded down $0.03 during mid-day trading on Friday, reaching $25.32. 4,715,800 shares of the company’s stock traded hands, compared to its average volume of 4,838,447. The company has a debt-to-equity ratio of 6.34, a current ratio of 0.76 and a quick ratio of 0.24. The business has a 50-day simple moving average of $30.29 and a 200 day simple moving average of $38.01. Nordstrom has a 1-year low of $25.01 and a 1-year high of $67.75. The stock has a market cap of $4.02 billion, a P/E ratio of 7.13, a PEG ratio of 1.31 and a beta of 0.66.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Equities research analysts anticipate that Nordstrom will post 3.28 earnings per share for the current fiscal year.
In other Nordstrom news, insider Peter E. Nordstrom sold 3,380 shares of Nordstrom stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $109,714.80. Following the sale, the insider now owns 2,530,989 shares of the company’s stock, valued at $82,155,902.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christine Deputy sold 4,812 shares of Nordstrom stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the completion of the sale, the insider now directly owns 60,056 shares in the company, valued at approximately $1,957,225.04. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.
A number of hedge funds have recently made changes to their positions in JWN. Capital Investment Advisory Services LLC bought a new stake in Nordstrom in the second quarter worth about $29,000. Edge Wealth Management LLC raised its position in Nordstrom by 100.0% in the second quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 500 shares during the period. Resources Investment Advisors LLC. bought a new stake in Nordstrom in the second quarter worth about $35,000. Zions Bancorporation N.A. bought a new stake in Nordstrom in the first quarter worth about $41,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Nordstrom in the second quarter worth about $47,000. 63.94% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
See Also: SEC Filing
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