Nordstrom Inc. (NYSE:JWN) was downgraded by equities researchers at Vetr from a "hold" rating to a "sell" rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $47.33 price objective on the stock. Vetr's price target suggests a potential downside of 7.88% from the stock's current price.
Nordstrom (NYSE:JWN) opened at 51.38 on Monday, MarketBeat.com reports. Nordstrom has a one year low of $35.01 and a one year high of $79.39. The stock's 50 day moving average price is $41.43 and its 200-day moving average price is $46.72. The firm has a market capitalization of $8.90 billion and a price-to-earnings ratio of 21.89.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.56 by $0.11. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the previous year, the business posted $0.93 EPS. Nordstrom's revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Nordstrom will post $2.70 earnings per share for the current fiscal year.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Peapack Gladstone Financial Corp purchased a new position in Nordstrom during the first quarter valued at $202,000. EagleClaw Capital Managment LLC purchased a new position in Nordstrom during the first quarter valued at $205,000. Rothschild Investment Corp IL purchased a new position in Nordstrom during the second quarter valued at $217,000. Ken Stern & Associates Inc. boosted its position in Nordstrom by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 6,454 shares of the company's stock valued at $246,000 after buying an additional 130 shares in the last quarter. Finally, Buffington Mohr McNeal purchased a new position in Nordstrom during the first quarter valued at $251,000.
Several other analysts have also weighed in on JWN. Evercore ISI lowered Nordstrom from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $50.00 to $40.00 in a report on Friday, April 22nd. Cleveland Research lowered Nordstrom from a "buy" rating to a "neutral" rating in a report on Friday, April 29th. Royal Bank Of Canada initiated coverage on Nordstrom in a report on Tuesday, May 3rd. They set a "sector perform" rating and a $51.00 price objective on the stock. Wolfe Research lowered Nordstrom from a "market perform" rating to an "underperform" rating and decreased their price objective for the stock from $43.00 to $34.00 in a report on Tuesday, May 10th. Finally, Telsey Advisory Group decreased their price objective on Nordstrom from $52.00 to $40.00 and set a "market perform" rating on the stock in a report on Friday, May 13th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average target price of $47.25.
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.