Favorable Press Coverage Extremely Likely to Affect Nordstrom (JWN) Stock Price
Press coverage about Nordstrom (NYSE:JWN) has trended positive on Friday, InfoTrie Sentiment reports. InfoTrie ranks the sentiment of press coverage by monitoring more than 6,000 news and blog sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Nordstrom earned a daily sentiment score of 2.83 on their scale. InfoTrie also gave media stories about the specialty retailer an news buzz score of 10 out of 10, meaning that recent press coverage is extremely likely to have an impact on the stock’s share price in the near term.
Here are some of the media headlines that may have impacted Nordstrom’s score:
- Nordstrom wants Stanley Cup ring, at Canes’ expense – Raleigh News & Observer (newsobserver.com)
- Thousands of Nordstrom Customers Agree: These Are the 17 Best Sandals For Summer – POPSUGAR (popsugar.com)
- Shop Nordstrom Rack’s Epic Kate Spade Sale for Last-Minute Mother’s Day Gifts – Yahoo Sports (sports.yahoo.com)
- Tech Moves: Nordstrom hires Expedia tech vet; Univ. of Washington names head of new clean tech center; and more – GeekWire (geekwire.com)
- Nordstrom, tech-based vet at Greenwich Lane – The Villager – The Villager (thevillager.com)
Shares of JWN opened at $39.80 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 1.00 and a quick ratio of 0.41. The stock has a market capitalization of $6.29 billion, a PE ratio of 11.21, a PEG ratio of 1.78 and a beta of 0.48. Nordstrom has a one year low of $38.91 and a one year high of $67.75.
Several research firms have recently weighed in on JWN. Guggenheim reissued a “hold” rating on shares of Nordstrom in a research report on Thursday, February 28th. Credit Suisse Group lowered their price objective on Nordstrom from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday, January 16th. Atlantic Securities lowered Nordstrom from an “overweight” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Wednesday, January 16th. Piper Jaffray Companies lowered their price objective on Nordstrom to $43.00 and set a “neutral” rating for the company in a research report on Wednesday, January 16th. Finally, Goldman Sachs Group lowered Nordstrom from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $73.00 to $50.00 in a research report on Wednesday, January 16th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $50.13.
In other Nordstrom news, insider Erik B. Nordstrom sold 1,169 shares of Nordstrom stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the completion of the transaction, the insider now owns 2,671,406 shares in the company, valued at approximately $119,411,848.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erik B. Nordstrom sold 17,762 shares of Nordstrom stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the transaction, the insider now owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,180 shares of company stock valued at $2,164,864. 5.21% of the stock is currently owned by company insiders.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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