Nordstrom (NYSE:JWN) had its target price trimmed by Bank of America from $40.00 to $32.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an underperform rating on the specialty retailer’s stock.

A number of other brokerages have also issued reports on JWN. Robert W. Baird cut their price target on Nordstrom from $45.00 to $38.00 and set a neutral rating for the company in a research note on Wednesday. Wedbush reiterated a neutral rating and issued a $35.00 price target (down previously from $40.00) on shares of Nordstrom in a research note on Wednesday. Citigroup cut their price target on Nordstrom from $48.00 to $37.00 and set a neutral rating for the company in a research note on Wednesday. Piper Jaffray Companies set a $44.00 price target on Nordstrom and gave the stock a hold rating in a research note on Friday, March 1st. Finally, Deutsche Bank lowered Nordstrom from a buy rating to a hold rating and set a $43.30 price target for the company. in a research note on Friday, February 22nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Nordstrom has an average rating of Hold and an average target price of $44.69.

NYSE:JWN opened at $34.35 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.00 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $5.86 billion, a PE ratio of 9.68, a P/E/G ratio of 1.70 and a beta of 0.48. Nordstrom has a one year low of $33.75 and a one year high of $67.75.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). Nordstrom had a return on equity of 52.45% and a net margin of 3.27%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company posted $0.51 EPS. Sell-side analysts expect that Nordstrom will post 3.72 EPS for the current fiscal year.

In related news, insider Ken Worzel sold 17,125 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $770,625.00. Following the completion of the transaction, the insider now owns 102,588 shares of the company’s stock, valued at approximately $4,616,460. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the completion of the transaction, the insider now directly owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,180 shares of company stock valued at $2,164,864. Company insiders own 5.21% of the company’s stock.

Large investors have recently made changes to their positions in the stock. CX Institutional bought a new position in shares of Nordstrom in the 1st quarter valued at about $41,000. Zions Bancorporation N.A. bought a new position in shares of Nordstrom in the 1st quarter valued at about $41,000. Quadrant Capital Group LLC bought a new position in shares of Nordstrom in the 1st quarter valued at about $48,000. Pinnacle Financial Partners Inc. bought a new position in shares of Nordstrom in the 1st quarter valued at about $51,000. Finally, Whittier Trust Co. bought a new position in shares of Nordstrom in the 1st quarter valued at about $53,000. 60.17% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Nordstrom (NYSE:JWN)

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