Piper Jaffray Companies Analysts Give Nordstrom (JWN) a $45.00 Price Target

Nordstrom (NYSE:JWN) has been given a $45.00 price objective by stock analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday. The firm presently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 8.54% from the company’s previous close.

A number of other research analysts also recently commented on JWN. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. raised shares of Nordstrom from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $48.00 in a research note on Tuesday, January 2nd. UBS Group dropped their price objective on shares of Nordstrom from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $45.00 target price on shares of Nordstrom in a report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $46.37.

Nordstrom (NYSE:JWN) opened at $49.20 on Wednesday. Nordstrom has a one year low of $37.79 and a one year high of $50.32. The company has a current ratio of 1.00, a quick ratio of 0.30 and a debt-to-equity ratio of 3.14. The company has a market cap of $8,200.00, a PE ratio of 17.26, a PEG ratio of 2.71 and a beta of 0.89.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. sell-side analysts forecast that Nordstrom will post 2.96 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. San Francisco Sentry Investment Group CA boosted its holdings in Nordstrom by 1,752.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 2,190 shares during the period. Advisory Services Network LLC boosted its holdings in Nordstrom by 41.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after acquiring an additional 1,018 shares during the period. Thrivent Financial For Lutherans purchased a new position in Nordstrom in the 2nd quarter worth approximately $202,000. Nordea Investment Management AB boosted its holdings in Nordstrom by 7.2% in the 2nd quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock worth $204,000 after acquiring an additional 287 shares during the period. Finally, Tiedemann Wealth Management LLC boosted its holdings in Nordstrom by 15.4% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 10,600 shares of the specialty retailer’s stock worth $219,000 after acquiring an additional 1,418 shares during the period. Hedge funds and other institutional investors own 57.58% of the company’s stock.

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About Nordstrom

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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