Nordstrom (NYSE:JWN) Raised to “Strong-Buy” at StockNews.com

Nordstrom (NYSE:JWN) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Several other equities research analysts have also recently commented on JWN. UBS Group boosted their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research report on Wednesday. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average price target of $20.65.

Nordstrom Trading Down 8.1 %

Shares of NYSE JWN traded down $2.01 during midday trading on Wednesday, reaching $22.62. 7,660,466 shares of the stock were exchanged, compared to its average volume of 3,062,666. The business has a 50-day simple moving average of $22.86 and a two-hundred day simple moving average of $22.23. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. Nordstrom has a 12 month low of $14.80 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41.

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

Insider Transactions at Nordstrom

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

Institutional Trading of Nordstrom

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the period. Atlas Capital Advisors LLC boosted its holdings in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC bought a new stake in Nordstrom in the 2nd quarter valued at about $39,000. Blue Trust Inc. boosted its holdings in Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Nordstrom in the 2nd quarter valued at about $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.