Nordstrom’s (JWN) “Market Perform” Rating Reiterated at Telsey Advisory Group

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by investment analysts at Telsey Advisory Group in a note issued to investors on Friday, Benzinga reports. They presently have a $19.00 target price on the specialty retailer’s stock. Telsey Advisory Group’s price target points to a potential upside of 1.39% from the company’s current price.

A number of other research firms have also commented on JWN. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Jefferies Financial Group restated a “hold” rating and set a $17.00 price target (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, March 6th. Barclays boosted their price target on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, March 6th. Finally, Piper Sandler lifted their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.54.

Nordstrom Stock Up 4.4 %

Nordstrom stock opened at $18.74 on Friday. Nordstrom has a 1-year low of $12.88 and a 1-year high of $23.53. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 2.03 and a beta of 2.59. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The firm has a 50 day simple moving average of $19.25 and a 200 day simple moving average of $17.33.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. On average, analysts predict that Nordstrom will post 1.81 earnings per share for the current year.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently modified their holdings of the company. Premier Path Wealth Partners LLC bought a new position in shares of Nordstrom during the fourth quarter valued at about $1,081,000. Wellington Management Group LLP increased its position in shares of Nordstrom by 52.9% during the third quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock valued at $5,434,000 after buying an additional 125,877 shares during the period. Victory Capital Management Inc. increased its position in shares of Nordstrom by 48.7% during the third quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after buying an additional 757,000 shares during the period. EP Wealth Advisors LLC increased its position in shares of Nordstrom by 120.3% during the third quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 6,567 shares during the period. Finally, CenterBook Partners LP purchased a new position in shares of Nordstrom during the third quarter valued at about $736,000. 88.73% of the stock is owned by 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; mobile application; and clearance stores under the Last Chance name.