Nordstrom (JWN) is Initiated by RBC Capital Mkts to Sector Perform, Price Target at $51

Nordstrom (JWN) was Initiated by RBC Capital Mkts to “Sector Perform” and the brokerage firm has set the Price Target at $51. RBC Capital Mkts advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on Nordstrom. Company shares were Reiterated by Stifel on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $60 .Nordstrom was Downgraded by Piper Jaffray to ” Neutral” on Mar 21, 2016. Miller Tabak Initiated Nordstrom on Mar 8, 2016 to “Sell”, Price Target of the shares are set at $42.

On the company’s financial health, Nordstrom reported $1.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $1.24. The company had revenue of $4143.00 million for the quarter, compared to analysts expectations of $4171.52 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Nordstrom opened for trading at $51.2 and hit $51.74 on the upside on Monday, eventually ending the session at $51.59, with a gain of 0.90% or 0.46 points. The heightened volatility saw the trading volume jump to 26,76,048 shares. Company has a market cap of $8,921 M.

In a different news, on Apr 4, 2016, Geevy Sk Thomas (Executive Vice President) sold 155 shares at $57.10 per share price. According to the SEC, on Mar 30, 2016, Blake W Nordstrom (President) sold 1,557 shares at $50.58 per share price. On Mar 17, 2016, Michael G Koppel (Executive Vice President) sold 38,073 shares at $56.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Nordstrom Inc. is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and approximately 167 off-price Nordstrom Rack stores two Canada full-line stores and HauteLook and other retail channels including five Trunk Club showrooms and its two Jeffrey boutiques and one clearance store that operates under the name Last Chance. Credit segment includes its wholly owned federal savings bank Nordstrom fsb through which it provides a private label credit card two Nordstrom VISA credit cards and a debit card. The Company operated 290 United States stores located in 38 states as well as an e-commerce business through and HauteLook and as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.


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