Nordstrom, Inc. (NYSE:JWN) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average rating of “Reduce” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $22.90.

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, StockNews.com began coverage on shares of Nordstrom in a research report on Sunday. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Nordstrom

A number of large investors have recently bought and sold shares of JWN. Caprock Group LLC lifted its holdings in shares of Nordstrom by 9.1% during the 3rd quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after acquiring an additional 1,000 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Nordstrom during the third quarter valued at approximately $212,000. Charles Schwab Investment Management Inc. lifted its stake in Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nordstrom by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock valued at $6,985,000 after purchasing an additional 7,139 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $24.40 on Friday. Nordstrom has a 12 month low of $17.21 and a 12 month high of $24.99. The stock has a 50 day moving average of $24.27 and a 200-day moving average of $23.53. 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 market capitalization of $4.03 billion, a P/E ratio of 15.54 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. As a group, equities research analysts predict that Nordstrom will post 1.97 EPS for the current year.

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.