Cowen and Company restated their buy rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note issued to investors on Friday morning. They currently have a $50.00 price objective on the specialty retailer’s stock.
A number of other research firms have also recently weighed in on JWN. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the stock a hold rating in a report on Tuesday, July 25th. KeyCorp restated an overweight rating and issued a $55.00 price target on shares of Nordstrom in a report on Thursday, September 14th. J P Morgan Chase & Co restated an underweight rating and issued a $48.00 price target on shares of Nordstrom in a report on Friday, July 14th. Credit Suisse Group restated a buy rating and issued a $52.00 price target on shares of Nordstrom in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Nordstrom from a hold rating to a buy rating and set a $53.00 price target for the company in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $45.50.
Nordstrom (NYSE JWN) remained flat at $$40.03 during midday trading on Friday. The company had a trading volume of 7,114,800 shares, compared to its average volume of 2,928,846. The stock has a market cap of $6,654.58, a PE ratio of 12.83, a PEG ratio of 2.24 and a beta of 0.84. Nordstrom has a one year low of $37.79 and a one year high of $62.82. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.40 and a current ratio of 1.01.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a return on equity of 69.10% and a net margin of 3.25%. Nordstrom’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. equities analysts predict that Nordstrom will post 2.98 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc increased its position in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the period. Sei Investments Co. increased its position in Nordstrom by 32.0% in the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after buying an additional 771 shares during the period. Mosaic Family Wealth LLC increased its position in Nordstrom by 8.2% in the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after buying an additional 242 shares during the period. James Investment Research Inc. acquired a new stake in Nordstrom in the second quarter worth $156,000. Finally, Exane Derivatives acquired a new stake in Nordstrom in the second quarter worth $162,000. 63.03% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom Company Profile
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.
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