Piper Jaffray Companies Analysts Give Nordstrom, Inc. (NYSE:JWN) a $42.00 Price Target

Nordstrom, Inc. (NYSE:JWN) has been given a $42.00 price target by research analysts at Piper Jaffray Companies in a research note issued to investors on Monday. The firm currently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 11.41% from the stock’s current price.

A number of other research firms have also recently commented on JWN. Vetr cut Nordstrom from a “strong-buy” rating to a “buy” rating and set a $48.92 price target for the company. in a research note on Monday, April 10th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. ValuEngine cut Nordstrom from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Atlantic Securities upgraded Nordstrom from a “neutral” rating to an “overweight” rating and increased their price target for the company from $45.00 to $58.00 in a research note on Thursday, May 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $47.00 price target on shares of Nordstrom in a research note on Monday, March 27th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Nordstrom currently has a consensus rating of “Hold” and an average price target of $47.23.

Nordstrom (NYSE JWN) traded up 1.20% during midday trading on Monday, reaching $47.41. The company had a trading volume of 1,100,998 shares. The company has a market capitalization of $7.87 billion, a P/E ratio of 22.20 and a beta of 0.82. Nordstrom has a 1-year low of $39.05 and a 1-year high of $62.82. The firm has a 50-day moving average of $44.16 and a 200 day moving average of $45.73.

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A number of hedge funds have recently modified their holdings of the stock. Watch Point Trust Co raised its stake in shares of Nordstrom by 2.4% in the second quarter. Watch Point Trust Co now owns 22,645 shares of the specialty retailer’s stock valued at $1,084,000 after buying an additional 525 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Nordstrom during the second quarter valued at approximately $162,000. Ardevora Asset Management LLP raised its stake in shares of Nordstrom by 54.2% in the second quarter. Ardevora Asset Management LLP now owns 624,000 shares of the specialty retailer’s stock valued at $29,846,000 after buying an additional 219,400 shares during the last quarter. Windward Capital Management Co. CA raised its stake in shares of Nordstrom by 32.7% in the second quarter. Windward Capital Management Co. CA now owns 18,898 shares of the specialty retailer’s stock valued at $904,000 after buying an additional 4,656 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Nordstrom by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 39,940 shares of the specialty retailer’s stock valued at $1,910,000 after buying an additional 300 shares during the last quarter. 64.07% of the stock is currently owned by institutional investors.

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.

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