Nordstrom (NYSE:JWN) Lowered to Sell at UBS Group

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Nordstrom (NYSE:JWN) was downgraded by research analysts at UBS Group from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, October 30th, Marketbeat.com reports. They currently have a $30.00 target price on the specialty retailer’s stock. UBS Group’s target price points to a potential downside of 18.14% from the company’s previous close.

A number of other equities analysts have also recently issued reports on JWN. Telsey Advisory Group cut their target price on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, August 22nd. Bank of America reaffirmed an “underperform” rating and set a $29.00 price target (down previously from $32.00) on shares of Nordstrom in a report on Thursday, August 22nd. ValuEngine raised Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on Nordstrom from $40.00 to $33.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Finally, Guggenheim reaffirmed a “hold” rating on shares of Nordstrom in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.64.

NYSE JWN traded down $0.48 during trading hours on Wednesday, reaching $36.65. The company’s stock had a trading volume of 2,380,871 shares, compared to its average volume of 3,844,259. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 5.39. The business has a 50-day simple moving average of $34.64 and a 200 day simple moving average of $33.20. Nordstrom has a 52 week low of $25.01 and a 52 week high of $66.60. The stock has a market cap of $5.65 billion, a PE ratio of 10.32, a PEG ratio of 1.82 and a beta of 0.73.

Nordstrom (NYSE:JWN) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company posted $0.95 earnings per share. Nordstrom’s revenue was down 4.8% on a year-over-year basis. As a group, equities analysts predict that Nordstrom will post 3.34 EPS for the current year.

In other Nordstrom news, insider Christine Deputy sold 1,906 shares of Nordstrom stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the transaction, the insider now owns 56,913 shares in the company, valued at $1,623,727.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.21% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Knuff & Co LLC purchased a new position in Nordstrom during the 3rd quarter worth approximately $27,000. Capital Investment Advisory Services LLC purchased a new position in Nordstrom during the 2nd quarter worth approximately $29,000. Edge Wealth Management LLC grew its position in Nordstrom by 100.0% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Resources Investment Advisors LLC. purchased a new position in Nordstrom during the 2nd quarter worth approximately $35,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Nordstrom during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 65.19% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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