Nordstrom (JWN) was Upgraded by Miller Tabak to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 39.50 from a previous price target of $30 . Earlier the firm had a rating of “Hold ” on the company shares. Miller Tabak advised their investors in a research report released on Jul 5, 2016.
Many Wall Street Analysts have commented on Nordstrom. Maxim Group Resumed Nordstrom on Jun 16, 2016 to “Buy”, Price Target of the shares are set at $50.Nordstrom was Upgraded by Northcoast to ” Neutral” on May 16, 2016. Shares were Reiterated by Telsey Advisory Group on May 13, 2016 to “Market Perform” and Lowered the Price Target to $ 40 from a previous price target of $52 .
On the company’s financial health, Nordstrom reported $0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 12, 2016. Analyst had a consensus of $0.45. The company had revenue of $3192.00 million for the quarter, compared to analysts expectations of $3234.94 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
Nordstrom opened for trading at $37.84 and hit $38.54 on the upside on Friday, eventually ending the session at $38.23, with a gain of 0.47% or 0.18 points. The heightened volatility saw the trading volume jump to 27,57,893 shares. Company has a market cap of $6,630 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 Nordstrom.com approximately 167 off-price Nordstrom Rack stores two Canada full-line stores Nordstromrack.com and HauteLook and other retail channels including five Trunk Club showrooms and TrunkClub.com 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 Nordstrom.com Nordstromrack.com and HauteLook and TrunkClub.com as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.