Nordstrom (NYSE:JWN) Lowered to Hold at StockNews.com

Nordstrom (NYSE:JWN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other research analysts have also weighed in on JWN. Evercore ISI increased their price objective on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Bank of America increased their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research report on Friday, May 31st. Barclays increased their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. Telsey Advisory Group increased their price objective on Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.75.

Nordstrom Price Performance

Shares of JWN stock traded down $0.68 during trading hours on Monday, reaching $22.80. The company had a trading volume of 2,392,181 shares, compared to its average volume of 3,626,803. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03. The stock has a fifty day moving average of $21.50 and a 200-day moving average of $19.87. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 2.69 and a beta of 2.62. Nordstrom has a 12-month low of $12.88 and a 12-month high of $23.74.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. Nordstrom’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. On average, equities analysts anticipate that Nordstrom will post 1.79 earnings per share for the current year.

Institutional Trading of Nordstrom

Several hedge funds have recently modified their holdings of JWN. Norges Bank acquired a new stake in shares of Nordstrom in the fourth quarter valued at $23,572,000. Dimensional Fund Advisors LP raised its stake in Nordstrom by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock valued at $52,212,000 after buying an additional 1,104,604 shares in the last quarter. Victory Capital Management Inc. raised its stake in Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after buying an additional 975,918 shares in the last quarter. Schroder Investment Management Group raised its stake in Nordstrom by 44.9% in the fourth quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after buying an additional 820,390 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Company Profile

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.