Nordstrom's (JWN) Market Perform Rating Reaffirmed at Telsey Advisory Group

Nordstrom (NYSE:JWN - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $19.00 price target on the specialty retailer's stock. Telsey Advisory Group's price objective points to a potential upside of 0.42% from the stock's previous close.

Several other research analysts have also commented on JWN. Barclays boosted their price objective on Nordstrom from $14.00 to $15.00 and gave the stock an "underweight" rating in a report on Wednesday, March 6th. The Goldman Sachs Group upped their target price on Nordstrom from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 6th. StockNews.com raised Nordstrom from a "hold" rating to a "buy" rating in a research note on Thursday, March 14th. Piper Sandler upped their target price on Nordstrom from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of "Hold" and a consensus price target of $16.54.

Nordstrom Price Performance

Shares of NYSE JWN traded up $0.18 during midday trading on Friday, hitting $18.92. 4,020,153 shares of the company's stock were exchanged, compared to its average volume of 4,490,594. Nordstrom has a 12-month low of $12.88 and a 12-month high of $23.53. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.03 and a beta of 2.59. The business's fifty day moving average price is $19.24 and its two-hundred day moving average price is $17.35.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Nordstrom's revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Nordstrom will post 1.81 EPS for the current fiscal year.

Institutional Trading of Nordstrom

A number of institutional investors have recently made changes to their positions in JWN. State Street Corp boosted its stake in shares of Nordstrom by 70.0% during the second quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer's stock valued at $176,866,000 after purchasing an additional 3,556,576 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Nordstrom by 240.8% during the first quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer's stock valued at $53,908,000 after acquiring an additional 1,405,000 shares in the last quarter. Norges Bank bought a new position in shares of Nordstrom during the fourth quarter valued at approximately $23,572,000. Balyasny Asset Management L.P. raised its holdings in shares of Nordstrom by 5,447.3% during the first quarter. Balyasny Asset Management L.P. now owns 1,220,516 shares of the specialty retailer's stock valued at $19,858,000 after acquiring an additional 1,198,514 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in shares of Nordstrom by 42.4% during the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer's stock valued at $58,391,000 after acquiring an additional 1,163,437 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

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.