Robert W. Baird Reaffirms “Hold” Rating for Nordstrom, Inc. (JWN)

Robert W. Baird reissued their hold rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report released on Wednesday morning. Robert W. Baird currently has a $50.00 price objective on the specialty retailer’s stock.

JWN has been the subject of several other reports. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the stock a hold rating in a research report on Tuesday, August 29th. ValuEngine lowered Nordstrom from a buy rating to a hold rating in a research report on Friday, September 1st. Cowen and Company restated an outperform rating and set a $49.00 target price on shares of Nordstrom in a research report on Tuesday, August 29th. Piper Jaffray Companies restated a hold rating on shares of Nordstrom in a research report on Thursday, October 19th. Finally, J P Morgan Chase & Co restated an underweight rating and set a $48.00 target price on shares of Nordstrom in a research report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $47.41.

Shares of Nordstrom (NYSE:JWN) traded down $1.44 on Wednesday, hitting $38.50. 1,641,181 shares of the stock were exchanged, compared to its average volume of 2,557,435. The company has a current ratio of 1.01, a quick ratio of 0.40 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.84.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. analysts anticipate that Nordstrom will post 2.98 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of JWN. Gemmer Asset Management LLC increased its position in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 18 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Nordstrom by 55.4% during the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after purchasing an additional 942 shares during the last quarter. Sei Investments Co. increased its position in shares of Nordstrom by 32.0% during the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 771 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of Nordstrom by 8.2% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 242 shares during the last quarter. Finally, James Investment Research Inc. acquired a new position in shares of Nordstrom during the 2nd quarter worth approximately $156,000. 63.06% of the stock is currently owned by hedge funds and other 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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