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Main » Nordstrom, Inc. (JWN) Rating Increased to Hold at Zacks Investment Research

Nordstrom, Inc. (JWN) Rating Increased to Hold at Zacks Investment Research

11 November 2017

The institutional investor owned 43,000 shares of the company's stock after buying an additional 15,000 shares during the period. Mosaic Family Wealth LLC boosted its stake in shares of Nordstrom by 8.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 16,664 shares of the specialty retailer's stock valued at $786,000 after acquiring an additional 3,109 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in shares of Nordstrom by 0.8% in the 2nd quarter. Its shares fell more than 3 percent in extended trading. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer's stock worth $109,000 after purchasing an additional 18 shares during the period. Coastline Trust Co purchased a new stake in shares of Nordstrom during the second quarter worth approximately $303,000.

Shares of Nordstrom, Inc. Nordstrom has a twelve month low of $37.79 and a twelve month high of $62.82. (NYSE:JWN) traded up 0.43% on Tuesday, reaching $48.96. 4,787,784 shares of the company's stock were exchanged, compared to its average volume of 2,899,062. The firm has a 50 day moving average price of $55.93 and a 200 day moving average price of $49.34. The firm has a market capitalization of $6,366.98, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.14 and a beta of 0.84.

Nordstrom (NYSE JWN) remained flat at $$40.03 on Friday.

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Nordstrom, Inc. (NYSE:JWN) had a mixed quarter as its earnings were strong, but certain segments of the retailer underperformed. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. Net sales also grew 2% year-over-year to $3.5 billion. Last year's results were hurt by a goodwill impairment.

CORRECTION: Nordstrom reported $3.63 billion in revenue for the quarter.

It had previously guided for an annual EPS of US$2.85 - US$3.00. Stockholders of record on Monday, November 28th were given a dividend of $0.37 per share.

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Macy's launched its Star Rewards loyalty program during the third quarter and said customers are already "responding positively". The market seems to be taking Macy's report as a good omen for Nordstrom , which reports earnings after the market closes today.

A number of other analysts also recently issued reports on JWN.

The apparel store chain reported a profit of 67 cents per share on an adjusted basis, topping the 63 cents per share that analysts polled by Thomson Reuters were expecting. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the stock a "hold" rating in a report on Tuesday, July 25th.

A total of 26 analysts have released a report on Nordstrom Inc. They issued a "buy" rating and a $60.00 price objective for the company. Zacks Investment Research upgraded shares of Nordstrom from a "hold" rating to a "buy" rating and set a $53.00 price target on the stock in a report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. Citigroup Inc. reiterated a "hold" rating and set a $43.00 target price on shares of Nordstrom in a research report on Friday.

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Nordstrom, Inc. (JWN) Rating Increased to Hold at Zacks Investment Research