William Blair Downgrades Nordstrom (JWN) to Market Perform

Nordstrom (NYSE:JWN) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a report released on Tuesday.

A number of other brokerages also recently commented on JWN. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, January 15th. BMO Capital Markets set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a research note on Friday, January 12th. Piper Jaffray Companies set a $45.00 target price on Nordstrom and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Robert W. Baird set a $49.00 target price on Nordstrom and gave the stock a “hold” rating in a research note on Friday, December 22nd. Finally, ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.43.

Shares of Nordstrom (NYSE JWN) traded up $0.82 during mid-day trading on Tuesday, hitting $52.82. The stock had a trading volume of 1,100,000 shares, compared to its average volume of 2,134,514. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $8,590.00, a price-to-earnings ratio of 18.53, a PEG ratio of 2.91 and a beta of 0.89. Nordstrom has a fifty-two week low of $37.79 and a fifty-two week high of $53.00.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. equities analysts expect that Nordstrom will post 2.98 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of Nordstrom by 44.9% during the 4th quarter. State of Alaska Department of Revenue now owns 32,630 shares of the specialty retailer’s stock worth $1,545,000 after acquiring an additional 10,110 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Nordstrom by 10.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 877,639 shares of the specialty retailer’s stock worth $41,583,000 after acquiring an additional 79,876 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Nordstrom by 2.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 166,132 shares of the specialty retailer’s stock worth $7,871,000 after acquiring an additional 4,040 shares in the last quarter. USS Investment Management Ltd purchased a new stake in shares of Nordstrom during the 4th quarter worth approximately $27,700,000. Finally, Atria Investments LLC purchased a new stake in shares of Nordstrom during the 4th quarter worth approximately $361,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This article was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://ledgergazette.com/2018/01/23/nordstrom-jwn-downgraded-by-william-blair.html.

Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Analyst Recommendations for Nordstrom (NYSE:JWN)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply