Nordstrom Inc. [JWN] stock Reiterated by Telsey Advisory Group analyst, price target now $30

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Nordstrom Inc. [NYSE: JWN] gained 3.26% on the last trading session, reaching $26.95 price per share at the time. The company report on April 26, 2022 that Nordstrom Rack to Open New Location in Los Angeles, CA.

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Seattle-based Nordstrom, Inc. (NYSE: JWN) has announced plans to open a new Nordstrom Rack in the spring of 2023. The new store will be located in NOHO West, a mixed-use complex in the North Hollywood neighborhood of Los Angeles, CA. “We’re excited to continue serving our customers in the Los Angeles area, bringing them the brands they love at the best prices in a convenient new location,” said Jamie Nordstrom, Chief Stores Officer. “This new location will strengthen our network of Nordstrom stores, Rack stores and Nordstrom Local service hubs in the Los Angeles market, making it easier for our customers to shop our selection, pick up an online order or make a return wherever is most convenient.”The 26,350 square-foot store will be located in NOHO West, a mixed-use shopping, dining and entertainment hub in the heart of North Hollywood that features retailers like LA Fitness, Regal Cinemas, Trader Joe’s and Ulta Beauty. NOHO West is managed by Merlone Geier Partners and is conveniently located just off the Hollywood Freeway (SR-170) at Oxnard Street, just west of the popular NOHO Arts District. The store is scheduled to open in spring 2023. “We are thrilled that Nordstrom Rack will be joining the incredible list of retailers at NOHO West,” said Stephen Logan, Vice President of Development for Merlone Geier Partners. “The customer experience and premier shopping that Nordstrom Rack offers is fully in line with the level of excellence we are striving to meet.”.

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers up to 70 percent off on-trend apparel, accessories, beauty, home, and shoes from many of the top brands sold at Nordstrom stores. Nordstrom Rack delivers the fashion customers are used to experiencing at Nordstrom stores, while providing access to many of the same brands at a savings.

Nordstrom Inc. represents 159.30 million in outstanding shares, while the company has a total market value of $4.69 billion with the latest information. JWN stock price has been found in the range of $25.91 to $27.005.

If compared to the average trading volume of 6.35M shares, JWN reached a trading volume of 3732324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Nordstrom Inc. [JWN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JWN shares is $25.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JWN stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Telsey Advisory Group have made an estimate for Nordstrom Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on March 02, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $26 to $29. The new note on the price target was released on March 02, 2022, representing the official price target for Nordstrom Inc. stock. Previously, the target price had yet another raise from $25 to $30, while Cowen kept a Market Perform rating on JWN stock. On March 02, 2022, analysts increased their price target for JWN shares from 23 to 30.

The Average True Range (ATR) for Nordstrom Inc. is set at 1.19, with the Price to Sales ratio for JWN stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 7.38, with the Price to Cash per share for the same quarter was set at 1.85. Price to Free Cash Flow for JWN in the course of the last twelve months was 23.55 with Quick ratio for the last quarter at 0.30.

Trading performance analysis for JWN stock

Nordstrom Inc. [JWN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.09. With this latest performance, JWN shares dropped by -4.87% in over the last four-week period, additionally sinking by -5.44% over the last 6 months – not to mention a drop of -28.42% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JWN stock in for the last two-week period is set at 49.35, with the RSI for the last a single of trading hit 46.11, and the three-weeks RSI is set at 51.52 for Nordstrom Inc. [JWN]. The present Moving Average for the last 50 days of trading for this stock 25.65, while it was recorded at 26.52 for the last single week of trading, and 27.00 for the last 200 days.

Nordstrom Inc. [JWN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Nordstrom Inc. [JWN] shares currently have an operating margin of +3.33 and a Gross Margin at +36.82. Nordstrom Inc.’s Net Margin is presently recorded at +1.20.

Return on Equity for this stock inclined to 40.18, with Return on Assets sitting at 1.93.

Nordstrom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 1.00.

Nordstrom Inc. [JWN]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JWN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nordstrom Inc. go to 40.19%.

An analysis of insider ownership at Nordstrom Inc. [JWN]

There are presently around $2,468 million, or 58.70% of JWN stock, in the hands of institutional investors. The top three institutional holders of JWN stocks are: FMR LLC with ownership of 13,921,317, which is approximately 24.913% of the company’s market cap and around 4.00% of the total institutional ownership; BLACKROCK INC., holding 11,512,934 shares of the stock with an approximate value of $310.27 million in JWN stocks shares; and VANGUARD GROUP INC, currently with $272.63 million in JWN stock with ownership of nearly 0.29% of the company’s market capitalization.

Positions in Nordstrom Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 175 institutional holders increased their position in Nordstrom Inc. [NYSE:JWN] by around 17,286,939 shares. Additionally, 177 investors decreased positions by around 19,011,059 shares, while 75 investors held positions by with 55,277,362 shares. The mentioned changes placed institutional holdings at 91,575,360 shares, according to the latest SEC report filing. JWN stock had 63 new institutional investments in for a total of 5,988,923 shares, while 70 institutional investors sold positions of 6,963,234 shares during the same period.