Nordstrom (NYSE:JWN) Given New $30.00 Price Target at Robert W. Baird

Nordstrom (NYSE:JWN) had its target price trimmed by Robert W. Baird from $39.00 to $30.00 in a research report report published on Wednesday morning, The Fly reports. The firm currently has a neutral rating on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on the company. Credit Suisse Group lowered their price target on Nordstrom from $39.00 to $34.00 and set a neutral rating for the company in a report on Wednesday, August 25th. Morgan Stanley cut Nordstrom from an equal weight rating to an underweight rating and lowered their price target for the stock from $36.00 to $27.00 in a report on Wednesday, August 25th. KeyCorp reissued a buy rating and set a $45.00 price target on shares of Nordstrom in a report on Wednesday, August 25th. TheStreet raised Nordstrom from a d+ rating to a c rating in a report on Tuesday, August 24th. Finally, Jefferies Financial Group cut Nordstrom from a buy rating to a hold rating and lowered their price target for the stock from $48.00 to $30.00 in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $30.88.

NYSE:JWN opened at $22.66 on Wednesday. The stock has a fifty day moving average price of $29.58 and a 200-day moving average price of $32.47. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -2,266.00, a PEG ratio of 3.74 and a beta of 2.37. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. Nordstrom has a fifty-two week low of $22.35 and a fifty-two week high of $46.45.

Nordstrom (NYSE:JWN) last released its earnings results on Monday, November 22nd. The specialty retailer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.17). The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.54 billion. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. Research analysts predict that Nordstrom will post 1.46 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Nordstrom by 15.9% in the 2nd quarter. FMR LLC now owns 12,269,362 shares of the specialty retailer’s stock valued at $448,690,000 after buying an additional 1,684,530 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Nordstrom by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,085,474 shares of the specialty retailer’s stock valued at $368,826,000 after buying an additional 258,873 shares during the last quarter. Tremblant Capital Group grew its position in shares of Nordstrom by 14.9% in the 3rd quarter. Tremblant Capital Group now owns 4,449,517 shares of the specialty retailer’s stock valued at $117,690,000 after buying an additional 577,248 shares during the last quarter. State Street Corp grew its position in shares of Nordstrom by 9.9% in the 2nd quarter. State Street Corp now owns 3,756,666 shares of the specialty retailer’s stock valued at $137,381,000 after buying an additional 338,628 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Nordstrom by 22.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,421,994 shares of the specialty retailer’s stock valued at $125,142,000 after buying an additional 630,116 shares during the last quarter. 59.29% of the stock is owned by institutional investors and hedge funds.

Nordstrom Company Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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