Nordstrom (NYSE:JWN) Upgraded by UBS Group to “Neutral” Rating

Nordstrom (NYSE:JWN) was upgraded by research analysts at UBS Group from a “sell” rating to a “neutral” rating in a research note issued on Friday,Benzinga reports. The brokerage presently has a $24.00 target price on the specialty retailer’s stock, up from their prior target price of $14.50. UBS Group’s target price would indicate a potential downside of 0.46% from the stock’s previous close.

Several other brokerages also recently weighed in on JWN. Evercore ISI increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Citigroup increased their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, StockNews.com began coverage on Nordstrom in a research note on Friday. They set a “buy” rating for the company. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.92.

Nordstrom Stock Down 0.0 %

Shares of NYSE:JWN opened at $24.11 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a 50-day moving average price of $23.38 and a 200 day moving average price of $22.68.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, equities research analysts predict that Nordstrom will post 1.94 earnings per share for the current year.

Institutional Trading of Nordstrom

A number of hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its position 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 acquiring an additional 993 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom in the 2nd quarter valued at about $71,000. Blue Trust Inc. lifted its position in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the last quarter. CWM LLC boosted its stake in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Nordstrom by 70.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after acquiring an additional 2,227 shares in the last quarter. Hedge funds and other 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.