Nordstrom, Inc. (JWN) Earns “Hold” Rating from Piper Jaffray Companies

Nordstrom, Inc. (NYSE:JWN)‘s stock had its “hold” rating reissued by investment analysts at Piper Jaffray Companies in a note issued to investors on Thursday, October 19th.

A number of other equities analysts have also recently commented on JWN. Wolfe Research lifted their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. KeyCorp reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Nordstrom in a research report on Monday, August 14th. BidaskClub cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $52.00 price objective on shares of Nordstrom in a research report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $49.00 price objective on shares of Nordstrom in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.77.

Nordstrom (NYSE JWN) traded down 2.94% during mid-day trading on Thursday, hitting $40.97. 2,331,480 shares of the stock traded hands. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The firm has a market cap of $6.81 billion, a PE ratio of 19.41 and a beta of 0.85. The stock has a 50 day moving average price of $44.41 and a 200 day moving average price of $45.54.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the business earned $0.67 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, analysts expect that Nordstrom will post $2.98 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in JWN. BlackRock Inc. boosted its holdings in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after acquiring an additional 7,689,800 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Nordstrom by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after acquiring an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC bought a new stake in Nordstrom in the second quarter valued at approximately $75,623,000. Principal Financial Group Inc. boosted its holdings in Nordstrom by 168.7% in the second 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, Disciplined Growth Investors Inc. MN boosted its holdings in Nordstrom by 1,155.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after acquiring an additional 822,038 shares during the last quarter. Institutional investors and hedge funds own 63.07% 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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