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

Piper Jaffray Companies set a $42.00 target price on Nordstrom, Inc. (NYSE:JWN) in a research note issued to investors on Monday, July 17th. The firm currently has a hold rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group set a $52.00 price objective on shares of Nordstrom and gave the stock a buy rating in a report on Saturday, April 1st. BMO Capital Markets set a $48.00 price objective on shares of Nordstrom and gave the stock a hold rating in a report on Saturday, May 13th. Robert W. Baird set a $50.00 price objective on shares of Nordstrom and gave the stock a hold rating in a report on Saturday, May 13th. UBS AG restated a buy rating and issued a $51.00 price objective on shares of Nordstrom in a report on Monday, May 15th. Finally, Vetr cut shares of Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target on the stock. in a report on Wednesday, July 5th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Nordstrom has a consensus rating of Hold and an average target price of $47.34.

Nordstrom (NYSE:JWN) opened at 44.90 on Monday. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 21.02 and a beta of 0.83. The firm’s 50-day moving average price is $47.32 and its 200 day moving average price is $45.51. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.19%. Nordstrom’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. On average, analysts expect that Nordstrom will post $2.96 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of JWN. OxFORD Asset Management LLP boosted its position in shares of Nordstrom by 142.1% in the second quarter. OxFORD Asset Management LLP now owns 25,273 shares of the specialty retailer’s stock worth $1,209,000 after buying an additional 14,832 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Nordstrom by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 685,817 shares of the specialty retailer’s stock worth $32,802,000 after buying an additional 8,617 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Nordstrom during the second quarter worth approximately $819,000. Parametric Portfolio Associates LLC boosted its position in shares of Nordstrom by 62.1% in the second quarter. Parametric Portfolio Associates LLC now owns 461,425 shares of the specialty retailer’s stock worth $22,070,000 after buying an additional 176,794 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Nordstrom by 2.2% in the second quarter. Advisor Group Inc. now owns 45,025 shares of the specialty retailer’s stock worth $2,115,000 after buying an additional 952 shares during the last quarter. 64.36% of the stock is 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.

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