Nordstrom (NYSE:JWN – Get Free Report) had its price objective increased by analysts at Piper Sandler from $17.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. Piper Sandler’s price objective would suggest a potential upside of 18.34% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of Nordstrom from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Nordstrom from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 22nd. Citigroup reduced their price objective on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Telsey Advisory Group boosted their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.
Read Our Latest Report on Nordstrom
Nordstrom Trading Down 3.6 %
Shares of JWN stock opened at $16.90 on Wednesday. The company’s 50-day moving average price is $19.04 and its 200-day moving average price is $16.60. The company has a current ratio of 1.02, a quick ratio of 0.29 and a debt-to-equity ratio of 3.08. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.90 and a beta of 2.59. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.53.
Nordstrom (NYSE:JWN – Get Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, equities analysts predict that Nordstrom will post 1.89 earnings per share for the current year.
Institutional Trading of Nordstrom
Institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of Nordstrom during the second quarter worth approximately $29,000. Hexagon Capital Partners LLC increased its stake in shares of Nordstrom by 77.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after buying an additional 869 shares during the period. Advisory Services Network LLC increased its stake in shares of Nordstrom by 315.9% during the first quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock worth $40,000 after buying an additional 1,889 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Nordstrom during the third quarter worth approximately $45,000. Finally, Dark Forest Capital Management LP increased its stake in shares of Nordstrom by 194.2% during the first quarter. Dark Forest Capital Management LP now owns 3,195 shares of the specialty retailer’s stock worth $52,000 after buying an additional 2,109 shares during the period. 62.56% of the stock is currently owned by hedge funds and other institutional investors.
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; and clearance stores under the Last Chance name.
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