Nordstrom (JWN) Rating Reiterated by Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating restated by equities researchers at Telsey Advisory Group in a report issued on Wednesday, Briefing.com Automated Import reports. They presently have a $37.00 price target on the specialty retailer’s stock, down from their previous price target of $56.00. Telsey Advisory Group’s price objective indicates a potential upside of 7.71% from the stock’s previous close.

Several other research firms also recently commented on JWN. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, March 19th. Piper Jaffray Companies set a $44.00 price objective on Nordstrom and gave the stock a “hold” rating in a report on Friday, March 1st. Deutsche Bank decreased their price objective on Nordstrom from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, March 1st. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a report on Thursday, February 28th. Finally, Wedbush downgraded Nordstrom from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $40.00 in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.69.

NYSE JWN opened at $34.35 on Wednesday. Nordstrom has a twelve month low of $33.75 and a twelve month high of $67.75. The company has a current ratio of 1.00, a quick ratio of 0.41 and a debt-to-equity ratio of 3.07. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.66 and a beta of 0.48.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). Nordstrom had a net margin of 3.56% and a return on equity of 57.14%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the business earned $0.51 EPS. On average, analysts predict that Nordstrom will post 3.72 EPS for the current fiscal year.

In related news, insider Christine Deputy sold 13,124 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $42.61, for a total value of $559,213.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ken Worzel sold 17,125 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $770,625.00. Following the completion of the sale, the insider now directly owns 102,588 shares in the company, valued at $4,616,460. The disclosure for this sale can be found here. Insiders sold 49,180 shares of company stock worth $2,164,864 over the last three months. 5.21% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP boosted its position in Nordstrom by 27.8% during the 4th quarter. Two Sigma Advisers LP now owns 749,087 shares of the specialty retailer’s stock valued at $34,915,000 after acquiring an additional 163,000 shares in the last quarter. Stone Ridge Asset Management LLC boosted its position in Nordstrom by 18.9% during the 4th quarter. Stone Ridge Asset Management LLC now owns 23,287 shares of the specialty retailer’s stock valued at $1,085,000 after acquiring an additional 3,699 shares in the last quarter. Empowered Funds LLC bought a new stake in Nordstrom during the 4th quarter valued at approximately $1,084,000. White Pine Capital LLC boosted its position in Nordstrom by 5.7% during the 4th quarter. White Pine Capital LLC now owns 18,630 shares of the specialty retailer’s stock valued at $868,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in Nordstrom by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock valued at $745,406,000 after acquiring an additional 178,581 shares in the last quarter. 63.33% of the stock is currently owned by institutional investors.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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