Piper Jaffray Companies set a $45.00 target price on Nordstrom (NYSE:JWN) in a research report sent to investors on Wednesday, January 10th. The firm currently has a hold rating on the specialty retailer’s stock.
Other equities analysts have also issued research reports about the stock. KeyCorp restated an outperform rating on shares of Nordstrom in a research report on Friday, November 10th. JPMorgan Chase & Co. upgraded shares of Nordstrom from an underweight rating to a neutral rating and increased their price target for the company from $33.00 to $48.00 in a research report on Tuesday, January 2nd. Robert W. Baird reduced their price target on shares of Nordstrom from $50.00 to $43.00 and set a neutral rating for the company 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 price target for the company in a research report on Wednesday, November 8th. Finally, Citigroup reaffirmed a hold rating and set a $43.00 price objective on shares of Nordstrom in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $47.43.
Nordstrom (NYSE:JWN) traded down $1.38 during midday trading on Wednesday, hitting $47.85. 1,840,000 shares of the stock traded hands, compared to its average volume of 1,860,000. Nordstrom has a 12-month low of $37.79 and a 12-month high of $53.00. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. The company has a market cap of $7,970.00, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 2.75 and a beta of 0.90.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The firm had revenue of $3.54 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. equities analysts forecast that Nordstrom will post 2.99 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in JWN. BlackRock Inc. increased its position in shares of Nordstrom by 1.9% in the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after purchasing an additional 150,539 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Nordstrom by 7.4% in the third quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after purchasing an additional 136,053 shares during the last quarter. York Capital Management Global Advisors LLC bought a new position in shares of Nordstrom in the second quarter worth approximately $75,623,000. APG Asset Management N.V. increased its position in shares of Nordstrom by 6.8% in the third quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after purchasing an additional 97,000 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Nordstrom by 245.1% in the second quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after purchasing an additional 756,061 shares during the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.
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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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