Brokerages Set Nordstrom, Inc. (NYSE:JWN) PT at $22.80

Nordstrom, Inc. (NYSE:JWN) has earned a consensus rating of “Reduce” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.80.

A number of research analysts recently issued reports on JWN shares. Wall Street Zen started coverage on Nordstrom in a report on Sunday, May 18th. They set a “buy” rating on the stock. Citigroup restated a “sell” rating and set a $22.00 price target (down from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th.

Nordstrom Stock Up 0.1%

JWN stock opened at $24.68 on Wednesday. The company has a market cap of $4.13 billion, a P/E ratio of 15.72 and a beta of 2.36. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company’s 50-day moving average price is $24.23 and its 200 day moving average price is $24.11. Nordstrom has a 52 week low of $19.45 and a 52 week high of $24.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. Picton Mahoney Asset Management acquired a new position in shares of Nordstrom in the first quarter valued at approximately $25,000. Versant Capital Management Inc lifted its position in Nordstrom by 40.9% in the 1st quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 470 shares in the last quarter. Parallel Advisors LLC lifted its position in Nordstrom by 48.6% in the 1st quarter. Parallel Advisors LLC now owns 1,690 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 553 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Nordstrom in the 1st quarter worth $45,000. Finally, Spire Wealth Management boosted its stake in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 1,000 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.