Nordstrom (NYSE:JWN) Stock Price Expected to Rise, Evercore ISI Analyst Says

Nordstrom (NYSE:JWN) had its target price lifted by research analysts at Evercore ISI from $20.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “in-line” rating on the specialty retailer’s stock. Evercore ISI’s price objective indicates a potential upside of 0.50% from the company’s previous close.

Several other equities research analysts have also issued reports on JWN. Bank of America raised their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday. Telsey Advisory Group lifted their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.17.

Nordstrom Stock Down 11.1 %

Nordstrom stock traded down $2.73 during midday trading on Wednesday, hitting $21.89. 2,723,888 shares of the stock were exchanged, compared to its average volume of 3,038,873. Nordstrom has a 52-week low of $14.80 and a 52-week high of $24.99. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The business’s 50-day moving average price is $22.86 and its 200-day moving average price is $22.22. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 12.80 and a beta of 2.59.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. On average, research analysts expect that Nordstrom will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Nordstrom during the first quarter worth about $419,000. Comerica Bank increased its position in shares of Nordstrom by 59.9% in the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after purchasing an additional 28,411 shares during the last quarter. Finally, EMC Capital Management purchased a new stake in Nordstrom in the first quarter valued at approximately $186,000. Institutional investors own 88.73% of the company’s stock.

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.