Nordstrom (NYSE:JWN) Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Nordstrom (NYSE:JWN) from a buy rating to a hold rating in a report issued on Wednesday morning, Price Targets.com reports. The brokerage currently has $30.00 target price on the specialty retailer’s stock, down from their prior target price of $48.00.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded Nordstrom from a hold rating to a strong-buy rating and set a $33.00 price objective for the company in a research report on Friday, August 27th. Citigroup reduced their price objective on Nordstrom from $39.00 to $31.00 and set a neutral rating for the company in a research report on Friday, October 22nd. JPMorgan Chase & Co. cut Nordstrom from a neutral rating to an underweight rating and set a $34.00 price target for the company. in a research report on Wednesday, August 25th. Gordon Haskett cut Nordstrom from a buy rating to a hold rating and cut their target price for the stock from $42.00 to $34.00 in a research report on Thursday, November 11th. Finally, Morgan Stanley lowered Nordstrom from an equal weight rating to an underweight rating and dropped their price target for the company from $36.00 to $27.00 in a research note on Wednesday, August 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nordstrom currently has an average rating of Hold and a consensus target price of $30.88.

Shares of NYSE:JWN opened at $22.66 on Wednesday. The company has a market cap of $3.60 billion, a P/E 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 current ratio of 0.90 and a quick ratio of 0.33. Nordstrom has a 1 year low of $22.35 and a 1 year high of $46.45. The stock’s fifty day moving average price is $29.58 and its 200-day moving average price is $32.47.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Monday, November 22nd. The specialty retailer reported $0.39 earnings per share (EPS) 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. Nordstrom’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, sell-side analysts anticipate that Nordstrom will post 1.46 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Nordstrom by 2,342.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,105 shares of the specialty retailer’s stock valued at $161,000 after acquiring an additional 5,855 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Nordstrom by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,597,652 shares of the specialty retailer’s stock valued at $42,258,000 after acquiring an additional 85,938 shares during the period. Captrust Financial Advisors increased its holdings in shares of Nordstrom by 76.1% in the 3rd quarter. Captrust Financial Advisors now owns 11,539 shares of the specialty retailer’s stock valued at $305,000 after acquiring an additional 4,988 shares during the period. Empirical Capital Management LLC increased its holdings in shares of Nordstrom by 50.0% in the 3rd quarter. Empirical Capital Management LLC now owns 540,014 shares of the specialty retailer’s stock valued at $14,283,000 after acquiring an additional 180,000 shares during the period. Finally, Cetera Advisors LLC purchased a new position in shares of Nordstrom in the 3rd quarter valued at $275,000. Institutional investors and hedge funds own 59.29% of the company’s stock.

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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Analyst Recommendations for Nordstrom (NYSE:JWN)

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