Nordstrom, Inc. (JWN) PT Set at $55.00 by KeyCorp

Nordstrom, Inc. (NYSE:JWN) has been given a $55.00 target price by KeyCorp in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. KeyCorp’s price objective suggests a potential upside of 28.15% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a research report on Wednesday, July 5th. Robert W. Baird set a $50.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, August 10th. Wolfe Research raised their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada set a $45.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Monday, June 19th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.77.

Shares of Nordstrom (JWN) traded down 1.19% during trading on Wednesday, hitting $42.41. The stock had a trading volume of 1,918,654 shares. The stock’s 50-day moving average is $45.59 and its 200-day moving average is $45.81. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 20.09 and a beta of 0.85. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. On average, equities research analysts expect that Nordstrom will post $2.98 EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Gemmer Asset Management LLC increased its stake in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 18 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Nordstrom by 0.9% during the 2nd quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock worth $315,000 after purchasing an additional 59 shares in the last quarter. FineMark National Bank & Trust increased its stake in shares of Nordstrom by 2.1% during the 2nd quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock worth $294,000 after purchasing an additional 128 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Nordstrom by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock worth $455,000 after purchasing an additional 140 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Nordstrom by 1.7% during the 2nd quarter. Synovus Financial Corp now owns 8,760 shares of the specialty retailer’s stock worth $423,000 after purchasing an additional 143 shares in the last quarter. 63.08% of the stock is owned by institutional investors and hedge funds.

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)

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