Nordstrom (NYSE:JWN) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Saturday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other research firms have also recently issued reports on JWN. Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Citigroup reiterated a “sell” rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Evercore ISI boosted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nordstrom has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.54 on Friday. The firm has a 50 day moving average of $24.12 and a 200-day moving average of $23.87. Nordstrom has a 12 month low of $19.45 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $4.10 billion, a PE ratio of 15.63 and a beta of 2.36.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, equities research analysts predict that Nordstrom will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in JWN. Picton Mahoney Asset Management bought a new stake in shares of Nordstrom in the first quarter worth approximately $25,000. Versant Capital Management Inc raised its stake in Nordstrom by 40.9% during the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 470 shares during the last quarter. Parallel Advisors LLC raised its stake in Nordstrom by 48.6% during the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 553 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Nordstrom during the 1st quarter valued at $45,000. Finally, Spire Wealth Management raised its stake in 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. 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.