Nordstrom, Inc. (NYSE:JWN) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $46.75 price objective on the stock. Vetr‘s price objective points to a potential upside of 9.15% from the stock’s current price.
Several other analysts have also issued reports on the company. Cowen and Company reiterated an “outperform” rating and set a $55.00 target price on shares of Nordstrom in a report on Wednesday, November 30th. Zacks Investment Research upgraded Nordstrom from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Maxim Group upped their target price on Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, November 11th. Deutsche Bank AG lowered Nordstrom from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $56.00 in a report on Monday, October 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group upgraded Nordstrom from a “neutral” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Wednesday, January 18th. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $48.62.
Shares of Nordstrom (NYSE:JWN) opened at 42.83 on Monday. The firm has a 50 day moving average price of $48.33 and a 200-day moving average price of $50.40. Nordstrom has a 12 month low of $35.01 and a 12 month high of $62.82. The company has a market cap of $7.42 billion, a P/E ratio of 22.79 and a beta of 1.00.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.32. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.49 billion. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. Analysts anticipate that Nordstrom will post $2.94 earnings per share for the current fiscal year.
In other news, President Blake W. Nordstrom sold 42,847 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $60.00, for a total value of $2,570,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael G. Koppel sold 87,257 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $58.34, for a total value of $5,090,573.38. Following the completion of the transaction, the insider now owns 164,275 shares of the company’s stock, valued at $9,583,803.50. The disclosure for this sale can be found here. Insiders sold a total of 179,342 shares of company stock valued at $10,568,441 over the last quarter. 7.03% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of JWN. Bank of New York Mellon Corp increased its stake in Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock worth $298,811,000 after buying an additional 414,860 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Nordstrom by 26.4% in the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the company’s stock worth $222,779,000 after buying an additional 897,203 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock worth $146,919,000 after buying an additional 160,682 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock worth $136,755,000 after buying an additional 929,597 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Nordstrom by 12.3% in the third quarter. Bank of Montreal Can now owns 3,303,891 shares of the company’s stock worth $171,407,000 after buying an additional 362,632 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 123 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 215 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
To view Vetr’s full report, visit Vetr’s official website.