Nordstrom, Inc. (JWN) Given Overweight Rating at KeyCorp
Nordstrom, Inc. (NYSE:JWN)‘s stock had its “overweight” rating reiterated by investment analysts at KeyCorp in a research note issued on Thursday. They presently have a $55.00 price objective on the specialty retailer’s stock. KeyCorp’s target price would suggest a potential upside of 15.21% from the company’s current price.
JWN has been the subject of a number of other reports. Cowen and Company reaffirmed an “outperform” rating and set a $53.00 target price (up from $49.00) on shares of Nordstrom in a research report on Wednesday. Gordon Haskett downgraded Nordstrom from an “accumulate” rating to a “hold” rating in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Nordstrom in a research note on Tuesday. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada set a $45.00 price target on Nordstrom and gave the company a “hold” rating in a research note on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. Nordstrom has an average rating of “Hold” and an average price target of $48.26.
Nordstrom (NYSE:JWN) traded down 2.524% during trading on Thursday, reaching $46.535. The company’s stock had a trading volume of 1,887,649 shares. The firm’s 50-day moving average price is $45.95 and its 200 day moving average price is $45.60. The company has a market capitalization of $7.74 billion, a P/E ratio of 22.044 and a beta of 0.82. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business earned $0.67 EPS. Nordstrom’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Nordstrom will post $2.97 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in JWN. Parallel Advisors LLC grew its stake in Nordstrom by 12.7% during the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC lifted its holdings in shares of Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 18 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 942 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 2,778 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Nordstrom by 32.0% in the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 771 shares during the last quarter. Institutional investors and hedge funds own 63.71% of the company’s stock.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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