Nordstrom’s (JWN) “Hold” Rating Reiterated at Citigroup Inc.

Citigroup Inc. reiterated their hold rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research report released on Friday. They currently have a $43.00 price target on the specialty retailer’s stock.

A number of other research analysts also recently issued reports on JWN. J P Morgan Chase & Co reiterated an underweight rating and set a $48.00 price objective on shares of Nordstrom in a research note on Friday, July 14th. Vetr downgraded Nordstrom from a sell rating to a strong sell rating and set a $41.54 price objective for the company. in a research note on Monday, July 17th. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the company a hold rating in a research note on Monday, July 17th. Zacks Investment Research raised Nordstrom from a hold rating to a buy rating and set a $53.00 price target on the stock in a report on Thursday, August 10th. Finally, Credit Suisse Group reissued a buy rating and issued a $52.00 price target on shares of Nordstrom in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $45.33.

Nordstrom (JWN) opened at $38.72 on Friday. The stock has a market capitalization of $6,669.00, a P/E ratio of 12.83, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. Nordstrom has a 52 week low of $37.79 and a 52 week high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. research analysts predict that Nordstrom will post 2.95 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Flippin Bruce & Porter Inc. raised its holdings in Nordstrom by 46.2% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock valued at $5,368,000 after buying an additional 35,467 shares during the period. Twin Capital Management Inc. raised its holdings in Nordstrom by 17.4% during the 2nd quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock valued at $1,500,000 after buying an additional 4,650 shares during the period. Thrivent Financial For Lutherans bought a new position in Nordstrom in the 2nd quarter valued at $202,000. Principal Financial Group Inc. grew its position in Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after acquiring an additional 1,149,685 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC grew its position in Nordstrom by 5.0% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 71,988 shares of the specialty retailer’s stock valued at $3,443,000 after acquiring an additional 3,428 shares during the last quarter. Institutional investors own 62.35% of the company’s stock.

About Nordstrom

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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