Nordstrom, Inc. (NYSE:JWN) Rating Lowered to Hold at BidaskClub

Nordstrom, Inc. (NYSE:JWN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Gordon Haskett initiated coverage on Nordstrom in a report on Tuesday, May 9th. They issued an “accumulate” rating and a $54.00 price objective for the company. TheStreet upgraded Nordstrom from a “c” rating to a “b-” rating in a report on Wednesday, April 26th. Vetr downgraded Nordstrom from a “strong-buy” rating to a “buy” rating and set a $53.07 price objective for the company. in a report on Monday, April 24th. Maxim Group set a $61.00 price objective on Nordstrom and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, UBS AG reiterated a “buy” rating and issued a $51.00 price objective on shares of Nordstrom in a report on Monday, May 15th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.34.

Nordstrom (JWN) opened at 44.90 on Friday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 21.02 and a beta of 0.83. The company has a 50 day moving average of $47.32 and a 200-day moving average of $45.51. Nordstrom has a one year low of $39.53 and a one year high of $62.82.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.19% and a net margin of 2.44%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the company earned $0.67 EPS. Nordstrom’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts predict that Nordstrom will post $2.96 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC boosted its position in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Ledyard National Bank boosted its position in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares in the last quarter. Advisory Services Network LLC acquired a new position in Nordstrom during the first quarter worth approximately $113,000. Finally, NEXT Financial Group Inc boosted its position in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares in the last quarter. 64.36% 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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