Nordstrom Inc. [JWN] Is Currently 3.90 below its 200 Period Moving Avg: What Does This Mean?

Nordstrom Inc. [NYSE: JWN] gained 3.90% or 0.75 points to close at $19.98 with a heavy trading volume of 7443915 shares. The company report on October 17, 2022 that Nordstrom Announces CFO Transition.

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Reaffirms Fiscal Year 2022 Financial Outlook.

Nordstrom, Inc. (NYSE: JWN) today announced that Nordstrom Chief Financial Officer Anne Bramman has informed the company of her intention to step down from her role. She will remain with the company through the reporting of Nordstrom’s third quarter 2022 financial results to facilitate a smooth transition. Her last day with the company will be December 2, 2022.

It opened the trading session at $19.96, the shares rose to $20.39 and dropped to $19.45, the range by which the price of stock traded the whole day. The daily chart for JWN points out that the company has recorded -30.65% loss over the past six months. However, it is still -23.79% lower than its most recent low trading price.

If we look at the average trading volume of 7.10M shares, JWN reached to a volume of 7443915 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 $21.19 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 3.10. 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.

Jefferies have made an estimate for Nordstrom Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 15, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on July 22, 2022, representing the official price target for Nordstrom Inc. stock. Previously, the target price had yet another raise to $30, while KeyBanc Capital Markets analysts kept a Overweight rating on JWN stock. On March 02, 2022, analysts increased their price target for JWN shares from 27 to 30.

The Average True Range (ATR) for Nordstrom Inc. is set at 1.05, with the Price to Sales ratio for JWN stock in the period of the last 12 months amounting to 0.21. The Price to Book ratio for the last quarter was 4.84, with the Price to Cash per share for the same quarter was set at 3.00.

Trading performance analysis for JWN stock

Nordstrom Inc. [JWN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.96. With this latest performance, JWN shares gained by 1.73% in over the last four-week period, additionally sinking by -30.65% over the last 6 months – not to mention a drop of -32.55% 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 57.40, with the RSI for the last a single of trading hit 63.63, and the three-weeks RSI is set at 53.30 for Nordstrom Inc. [JWN]. The present Moving Average for the last 50 days of trading for this stock 19.71, while it was recorded at 18.92 for the last single week of trading, and 22.99 for the last 200 days.

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

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 28.16%.

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

There are presently around $1,898 million, or 62.00% of JWN stock, in the hands of institutional investors. The top three institutional holders of JWN stocks are: VANGUARD GROUP INC with ownership of 10,328,597, which is approximately 0.505% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 9,687,557 shares of the stock with an approximate value of $193.56 million in JWN stocks shares; and FMR LLC, currently with $137.27 million in JWN stock with ownership of nearly -42.212% of the company’s market capitalization.

Positions in Nordstrom Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 204 institutional holders increased their position in Nordstrom Inc. [NYSE:JWN] by around 15,487,258 shares. Additionally, 160 investors decreased positions by around 19,364,222 shares, while 70 investors held positions by with 60,140,261 shares. The mentioned changes placed institutional holdings at 94,991,741 shares, according to the latest SEC report filing. JWN stock had 64 new institutional investments in for a total of 5,607,955 shares, while 50 institutional investors sold positions of 4,698,764 shares during the same period.


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