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.
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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