Nordstrom, Inc. (JWN) Rating Reiterated by Cowen and Company
Nordstrom, Inc. (NYSE:JWN)‘s stock had its “outperform” rating reiterated by equities research analysts at Cowen and Company in a report issued on Wednesday. They presently have a $53.00 target price on the specialty retailer’s stock, up from their previous target price of $49.00. Cowen and Company’s price objective indicates a potential upside of 13.36% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Gordon Haskett restated an “accumulate” rating on shares of Nordstrom in a research report on Friday, June 9th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Thursday, August 10th. Credit Suisse Group restated a “buy” rating and issued a $52.00 price target on shares of Nordstrom in a research report on Thursday, August 10th. Vetr cut Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price target for the company. in a research report on Monday, June 12th. Finally, ValuEngine cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.26.
Shares of Nordstrom (NYSE JWN) opened at 46.76 on Wednesday. The firm’s 50-day moving average is $45.90 and its 200 day moving average is $45.62. Nordstrom has a 52 week low of $39.53 and a 52 week high of $62.82. The firm has a market cap of $7.77 billion, a PE ratio of 22.15 and a beta of 0.82.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts forecast that Nordstrom will post $2.97 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Nordstrom by 12.7% in the 1st quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 236 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Nordstrom by 0.8% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 18 shares in the last quarter. NEXT Financial Group Inc lifted its stake in shares of Nordstrom by 55.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 942 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Nordstrom by 6,460.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Mosaic Family Wealth LLC lifted its stake in shares of Nordstrom by 3.8% in the 1st quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock valued at $138,000 after purchasing an additional 109 shares in the last quarter. 63.71% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom Company Profile
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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