Nordstrom’s (JWN) Sell Rating Reaffirmed at J P Morgan Chase & Co

J P Morgan Chase & Co reissued their sell rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report released on Friday morning. They currently have a $33.00 price objective on the specialty retailer’s stock.

JWN has been the subject of a number of other research reports. Royal Bank Of Canada set a $45.00 price target on Nordstrom and gave the company a hold rating in a research report on Tuesday, August 29th. UBS AG lowered their price target on Nordstrom from $46.00 to $43.00 and set a neutral rating for the company in a research report on Friday. ValuEngine downgraded Nordstrom from a buy rating to a hold rating in a research report on Friday, September 1st. Robert W. Baird reissued a hold rating and set a $50.00 price target on shares of Nordstrom in a research report on Wednesday, November 1st. Finally, Cowen and Company reissued an outperform rating and set a $49.00 price target on shares of Nordstrom in a research report on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company’s stock. Nordstrom currently has an average rating of Hold and an average target price of $45.33.

Shares of Nordstrom (JWN) traded down $1.31 during trading hours on Friday, hitting $38.72. The stock had a trading volume of 2,871,800 shares, compared to its average volume of 2,928,584. The stock has a market capitalization of $6,669.00, a P/E ratio of 12.83, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. Nordstrom has a twelve month low of $37.79 and a twelve month high of $62.82.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. research analysts forecast that Nordstrom will post 2.95 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in JWN. San Francisco Sentry Investment Group CA increased its holdings in Nordstrom by 1,752.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 2,190 shares during the last quarter. NEXT Financial Group Inc increased its holdings in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 942 shares during the last quarter. Sei Investments Co. increased its holdings in Nordstrom by 32.0% in the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 771 shares during the last quarter. Mosaic Family Wealth LLC increased its holdings in Nordstrom by 8.2% in the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after buying an additional 242 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in Nordstrom in the second quarter valued at about $156,000. 62.35% of the stock is 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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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