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

Equities research analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN - Get Free Report) in a note issued to investors on Saturday. The brokerage set a "buy" rating on the specialty retailer's stock.

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

Nordstrom Trading Up 0.1 %

JWN opened at $24.40 on Friday. The firm has a market capitalization of $4.08 billion, a P/E ratio of 15.54 and a beta of 2.36. The firm's 50 day moving average is $24.11 and its 200-day moving average is $23.84. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a 52-week low of $19.45 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new stake in Nordstrom in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Nordstrom by 40.9% during the first quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer's stock valued at $40,000 after purchasing an additional 470 shares during the period. Parallel Advisors LLC raised its stake in shares of Nordstrom by 48.6% during the first quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer's stock valued at $41,000 after purchasing an additional 553 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Nordstrom in the first quarter worth about $45,000. Finally, Spire Wealth Management grew its position in Nordstrom by 90.9% in 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 in the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.

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