Nordstrom (NYSE:JWN) Price Target Raised to $22.00

Nordstrom (NYSE:JWN) had its price objective hoisted by equities researchers at Bank of America from $20.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the specialty retailer’s stock. Bank of America‘s price target indicates a potential downside of 2.31% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. BMO Capital Markets increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $20.92.

Nordstrom Trading Down 8.5 %

NYSE:JWN opened at $22.52 on Wednesday. The company has a market cap of $3.70 billion, a PE ratio of 14.19 and a beta of 2.59. The business’s 50 day moving average is $22.86 and its two-hundred day moving average is $22.22. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. Nordstrom has a 52 week low of $14.80 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts predict that Nordstrom will post 1.91 EPS for the current year.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

Large investors have recently made changes to their positions in the business. Venturi Wealth Management LLC raised its holdings in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Nordstrom in the second quarter valued at $39,000. Blue Trust Inc. lifted its position in shares of Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 2,411 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom during the 2nd quarter worth $71,000. Institutional investors own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.