Nordstrom (NYSE:JWN) Price Target Raised to $21.00 at The Goldman Sachs Group

Nordstrom (NYSE:JWN) had its price objective raised by equities researchers at The Goldman Sachs Group from $19.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 3.89% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Barclays boosted their target price on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. BMO Capital Markets boosted their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday. Evercore ISI increased their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. raised their price objective on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Friday, May 17th. Finally, StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.62.

Nordstrom Stock Up 3.4 %

Shares of Nordstrom stock traded up $0.71 during trading on Wednesday, hitting $21.85. 2,958,441 shares of the stock traded hands, compared to its average volume of 3,348,309. Nordstrom has a 52-week low of $12.88 and a 52-week high of $24.03. The stock’s fifty day simple moving average is $21.91 and its 200 day simple moving average is $20.66. The firm has a market cap of $3.58 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. On average, equities analysts predict that Nordstrom will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nordstrom

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after purchasing an additional 579,001 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after buying an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after acquiring an additional 137,094 shares during the last quarter. Schroder Investment Management Group lifted its stake in Nordstrom by 44.9% in the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after purchasing an additional 820,390 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of 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 purchasing an additional 661,769 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Company Profile

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.