Nordstrom, Inc. (JWN) PT Lowered to $43.00

Nordstrom, Inc. (NYSE:JWN) had its price target reduced by stock analysts at UBS AG from $46.00 to $43.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the specialty retailer’s stock. UBS AG’s target price suggests a potential upside of 7.42% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. William Blair restated an “outperform” rating on shares of Nordstrom in a research report on Tuesday, September 12th. Gordon Haskett downgraded Nordstrom from an “accumulate” rating to a “hold” rating in a research report on Wednesday, September 13th. KeyCorp set a $55.00 price target on Nordstrom and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Cowen and Company restated an “outperform” rating and set a $53.00 price target (up previously from $49.00) on shares of Nordstrom in a research report on Wednesday, September 13th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have issued a buy rating to the stock. Nordstrom has an average rating of “Hold” and an average price target of $45.50.

Nordstrom (NYSE JWN) remained flat at $$40.03 during midday trading on Friday. 7,114,800 shares of the stock were exchanged, compared to its average volume of 2,870,333. Nordstrom has a 1 year low of $37.79 and a 1 year high of $62.82. The company has a quick ratio of 0.40, a current ratio of 1.01 and a debt-to-equity ratio of 3.48. The firm has a market cap of $6,654.59, a PE ratio of 12.83, a P/E/G ratio of 2.24 and a beta of 0.84.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 69.10% and a net margin of 3.25%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. research analysts expect that Nordstrom will post 2.95 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after acquiring an additional 2,985,551 shares in the last quarter. BlackRock Inc. boosted its position in shares of Nordstrom by 1.9% in the 2nd quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after purchasing an additional 150,539 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Nordstrom by 7.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after purchasing an additional 136,053 shares in the last quarter. York Capital Management Global Advisors LLC bought a new stake in shares of Nordstrom in the 2nd quarter worth approximately $75,623,000. Finally, APG Asset Management N.V. boosted its position in shares of Nordstrom by 6.8% in the 3rd quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after purchasing an additional 97,000 shares in the last quarter. 63.03% 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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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