Nordstrom (NYSE:JWN) Price Target Raised to $23.00 at Citigroup

Nordstrom (NYSE:JWN) had its price objective upped by Citigroup from $22.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Other research analysts also recently issued research reports about the stock. TD Cowen boosted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Telsey Advisory Group boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Bank of America boosted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.58.

Nordstrom Trading Up 1.6 %

NYSE:JWN opened at $22.66 on Tuesday. The company has a market capitalization of $3.72 billion, a PE ratio of 13.25 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. Nordstrom has a 52-week low of $13.68 and a 52-week high of $24.93. The stock has a fifty day simple moving average of $22.74 and a 200-day simple moving average of $22.09.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities research analysts expect that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of institutional investors have recently modified their holdings of JWN. Verition Fund Management LLC grew its holdings in shares of Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares during the period. American Century Companies Inc. lifted its position in Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares in the last quarter. Vanguard Group Inc. lifted its position in Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Marshall Wace LLP lifted its position in Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares in the last quarter. Finally, NewSquare Capital LLC acquired a new position in Nordstrom during the 2nd quarter worth approximately $7,783,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.