Credit Suisse Group Increases Nordstrom (NYSE:JWN) Price Target to $39.00


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Nordstrom (NYSE:JWN) had its price target lifted by equities researchers at Credit Suisse Group from $26.00 to $39.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Credit Suisse Group’s target price suggests a potential upside of 3.78% from the stock’s previous close.

Several other analysts also recently commented on JWN. Telsey Advisory Group downgraded Nordstrom from an “outperform” rating to a “market perform” rating and set a $28.00 target price for the company. in a research note on Thursday. Wedbush raised their price objective on Nordstrom from $17.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, December 31st. Barclays upped their target price on Nordstrom from $12.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 25th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Nordstrom from $17.00 to $26.00 in a research report on Wednesday, November 25th. Finally, KeyCorp upped their price objective on shares of Nordstrom from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $27.47.

NYSE JWN opened at $37.58 on Thursday. The business has a 50 day simple moving average of $30.76 and a 200 day simple moving average of $18.87. Nordstrom has a one year low of $11.72 and a one year high of $41.99. The stock has a market capitalization of $5.93 billion, a P/E ratio of -11.12 and a beta of 2.42. The company has a debt-to-equity ratio of 10.98, a current ratio of 0.89 and a quick ratio of 0.47.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Monday, November 23rd. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.40. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Nordstrom had a negative return on equity of 77.24% and a negative net margin of 4.57%. During the same period in the prior year, the business earned $0.81 EPS. Equities analysts expect that Nordstrom will post -3.08 earnings per share for the current year.

In related news, COO Ken Worzel sold 9,772 shares of Nordstrom stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $31.96, for a total transaction of $312,313.12. Following the sale, the chief operating officer now directly owns 124,508 shares in the company, valued at $3,979,275.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.52% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in Nordstrom in the second quarter valued at about $25,000. Huntington National Bank lifted its stake in Nordstrom by 55.8% in the fourth quarter. Huntington National Bank now owns 838 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 300 shares during the last quarter. Tsfg LLC bought a new position in Nordstrom during the third quarter valued at $33,000. Captrust Financial Advisors bought a new position in Nordstrom during the second quarter valued at $36,000. Finally, TCI Wealth Advisors Inc. increased its position in Nordstrom by 8,491.7% in the third quarter. TCI Wealth Advisors Inc. now owns 3,093 shares of the specialty retailer’s stock worth $37,000 after buying an additional 3,057 shares during the last quarter. Institutional investors and hedge funds own 64.87% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, 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.

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