Nordstrom Inc. (NYSE:JWN) was upgraded by research analysts at Vetr from a "hold" rating to a "buy" rating in a report issued on Tuesday. The firm presently has a $47.50 price objective on the stock. Vetr's price target suggests a potential upside of 8.13% from the company's previous close.
Nordstrom (NYSE:JWN) traded up 2.78% during midday trading on Tuesday, hitting $43.93. 6,290,802 shares of the stock traded hands. The stock has a market capitalization of $7.62 billion and a P/E ratio of 15.78. Nordstrom has a 52 week low of $35.01 and a 52 week high of $79.98. The stock's 50-day moving average price is $39.23 and its 200-day moving average price is $46.96.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, May 12th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.46 by $0.20. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.28 billion. The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Equities research analysts expect that Nordstrom will post $2.56 EPS for the current fiscal year.
Several other equities analysts have also commented on JWN. Stifel Nicolaus reaffirmed a "buy" rating and set a $66.00 target price (up previously from $60.00) on shares of Nordstrom in a report on Tuesday, March 29th. JPMorgan Chase & Co. cut their price target on shares of Nordstrom from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, April 8th. Evercore ISI lowered shares of Nordstrom from a "hold" rating to a "sell" rating and cut their price target for the stock from $50.00 to $40.00 in a report on Friday, April 22nd. Cleveland Research lowered shares of Nordstrom from a "buy" rating to a "neutral" rating in a report on Friday, April 29th. Finally, Royal Bank Of Canada initiated coverage on shares of Nordstrom in a report on Tuesday, May 3rd. They issued a "sector perform" rating and a $51.00 price target on the stock. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of "Hold" and a consensus price target of $48.54.
Several 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 worth $202,000. EagleClaw Capital Managment LLC purchased a new position in Nordstrom during the first quarter worth $205,000. Buffington Mohr McNeal purchased a new position in Nordstrom during the first quarter worth $251,000. Stratos Wealth Partners LTD. purchased a new position in Nordstrom during the first quarter worth $257,000. Finally, Merriman Wealth Management LLC raised its position in Nordstrom by 16.3% in the first quarter. Merriman Wealth Management LLC now owns 5,118 shares of the company's stock worth $293,000 after buying an additional 718 shares during the last quarter.
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.