Nordstrom (NYSE:JWN) has been assigned a $45.00 target price by equities researchers at Piper Jaffray Companies in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 8.54% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. KeyCorp set a $55.00 target price on shares of Nordstrom and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Cowen restated a “buy” rating and set a $50.00 target price on shares of Nordstrom in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Wednesday, November 8th. Robert W. Baird reaffirmed a “hold” rating and set a $50.00 price target on shares of Nordstrom in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $45.00 price target on shares of Nordstrom in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.37.
Shares of Nordstrom (NYSE JWN) opened at $49.20 on Wednesday. The company has a market cap of $8,200.00, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89. Nordstrom has a 1 year low of $37.79 and a 1 year high of $50.32. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. sell-side analysts predict that Nordstrom will post 2.96 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in JWN. Schwab Charles Investment Management Inc. raised its stake in Nordstrom by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 629,039 shares of the specialty retailer’s stock valued at $30,087,000 after purchasing an additional 36,465 shares during the last quarter. Pacer Advisors Inc. raised its stake in Nordstrom by 15.0% in the 2nd quarter. Pacer Advisors Inc. now owns 5,053 shares of the specialty retailer’s stock valued at $242,000 after purchasing an additional 659 shares during the last quarter. LSV Asset Management acquired a new position in Nordstrom in the 2nd quarter valued at about $559,000. Franklin Resources Inc. raised its stake in Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after purchasing an additional 756,061 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in Nordstrom by 32.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 49,107 shares of the specialty retailer’s stock valued at $2,349,000 after purchasing an additional 11,899 shares during the last quarter. 57.58% of the stock is owned by hedge funds and other institutional investors.
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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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