JPMorgan Chase & Co. Lowers Nordstrom (JWN) Price Target to $35.00

Nordstrom (NYSE:JWN) had its target price cut by equities researchers at JPMorgan Chase & Co. from $40.00 to $35.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 7.53% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Wedbush downgraded shares of Nordstrom from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $65.00 to $40.00 in a research note on Thursday, May 9th. Gordon Haskett downgraded shares of Nordstrom from a “hold” rating to an “underperform” rating and set a $43.00 target price on the stock. in a research note on Thursday, March 21st. Telsey Advisory Group dropped their target price on shares of Nordstrom from $56.00 to $37.00 and set a “market perform” rating on the stock in a research note on Wednesday. Piper Jaffray Companies dropped their target price on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Bank of America reiterated an “underperform” rating and issued a $40.00 target price (down previously from $48.00) on shares of Nordstrom in a research note on Wednesday, May 15th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.34.

NYSE:JWN opened at $37.85 on Wednesday. Nordstrom has a one year low of $36.37 and a one year high of $67.75. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.41 and a current ratio of 1.00. The stock has a market cap of $5.75 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.66 and a beta of 0.48.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.20). Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. During the same quarter in the prior year, the business posted $0.51 EPS. Research analysts anticipate that Nordstrom will post 3.72 EPS for the current fiscal year.

In related news, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the transaction, the insider now owns 2,653,314 shares in the company, valued at $116,931,547.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christine Deputy sold 13,124 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $42.61, for a total transaction of $559,213.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,180 shares of company stock worth $2,164,864. 5.21% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. CX Institutional bought a new position in Nordstrom during the first quarter valued at approximately $41,000. Zions Bancorporation N.A. bought a new position in Nordstrom during the first quarter valued at approximately $41,000. Quadrant Capital Group LLC bought a new position in Nordstrom during the first quarter valued at approximately $48,000. Pinnacle Financial Partners Inc. bought a new position in Nordstrom during the first quarter valued at approximately $51,000. Finally, Whittier Trust Co. bought a new position in Nordstrom during the first quarter valued at approximately $53,000. Institutional investors own 63.33% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Recommended Story: Mutual Funds

The Fly

Analyst Recommendations for Nordstrom (NYSE:JWN)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.