Nordstrom (NYSE:JWN) Upgraded at TheStreet

Nordstrom (NYSE:JWN) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a research report issued on Friday, TheStreetRatingsTable reports.

A number of other research analysts have also weighed in on JWN. Telsey Advisory Group lifted their price target on shares of Nordstrom from $32.00 to $40.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. KeyCorp dropped their price objective on shares of Nordstrom from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, August 22nd. ValuEngine lowered shares of Nordstrom from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Morgan Stanley lowered their target price on Nordstrom from $40.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Finally, Bank of America reaffirmed an “underperform” rating and set a $29.00 price target (down previously from $32.00) on shares of Nordstrom in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. Nordstrom currently has an average rating of “Hold” and an average target price of $36.88.

JWN opened at $37.54 on Friday. The firm’s fifty day moving average is $36.73 and its two-hundred day moving average is $32.84. The firm has a market cap of $5.91 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. Nordstrom has a twelve month low of $25.01 and a twelve month high of $53.77. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.26 and a current ratio of 0.90.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, November 21st. The specialty retailer reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.17. Nordstrom had a return on equity of 70.45% and a net margin of 3.57%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Equities analysts forecast that Nordstrom will post 3.41 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its stake in shares of Nordstrom by 20.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,807 shares of the specialty retailer’s stock worth $60,000 after acquiring an additional 303 shares in the last quarter. DNB Asset Management AS raised its position in shares of Nordstrom by 2.9% in the 3rd quarter. DNB Asset Management AS now owns 11,350 shares of the specialty retailer’s stock worth $382,000 after purchasing an additional 318 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Nordstrom by 6.0% in the 2nd quarter. GSA Capital Partners LLP now owns 6,524 shares of the specialty retailer’s stock worth $208,000 after purchasing an additional 368 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Nordstrom by 33.2% in the 3rd quarter. Global Retirement Partners LLC now owns 1,739 shares of the specialty retailer’s stock worth $59,000 after buying an additional 433 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in Nordstrom by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 9,727 shares of the specialty retailer’s stock worth $328,000 after buying an additional 443 shares during the last quarter. 66.06% of the stock is currently owned by institutional investors and hedge funds.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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