why Nordstrom Inc. [JWN] is a Good Choice for Investors After New Price Target of $21.12

Nordstrom Inc. [NYSE: JWN] traded at a high on 11/22/22, posting a 6.49 gain after which it closed the day’ session at $22.65. The company report on November 22, 2022 that Nordstrom Reports Third Quarter 2022 Earnings.

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Third quarter total revenue of $3.5 billion.

Loss per share of $0.13 and adjusted earnings per share of $0.201.

The results of the trading session contributed to over 11414105 shares changing hands. Over the past one week, the price volatility of Nordstrom Inc. stands at 5.53% while the volatility over the past one month is 4.98%.

The market cap for JWN stock reached $3.54 billion, with 160.60 million shares outstanding and 96.35 million shares in the current float. Compared to the average trading volume of 6.75M shares, JWN reached a trading volume of 11414105 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $21.12 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 1.15, with the Price to Sales ratio for JWN stock in the period of the last 12 months amounting to 0.22. The Price to Book ratio for the last quarter was 5.48, with the Price to Cash per share for the same quarter was set at 3.16.

How has JWN stock performed recently?

Nordstrom Inc. [JWN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.52. With this latest performance, JWN shares gained by 12.86% in over the last four-week period, additionally plugging by 9.53% over the last 6 months – not to mention a drop of -29.92% 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 62.45, with the RSI for the last a single of trading hit 65.61, and the three-weeks RSI is set at 59.73 for Nordstrom Inc. [JWN]. The present Moving Average for the last 50 days of trading for this stock 19.44, while it was recorded at 21.28 for the last single week of trading, and 22.73 for the last 200 days.

Nordstrom Inc. [JWN]: Deeper insight into the fundamentals

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.

Earnings analysis for Nordstrom Inc. [JWN]

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 26.66%.

Insider trade positions for Nordstrom Inc. [JWN]

There are presently around $2,080 million, or 59.20% of JWN stock, in the hands of institutional investors. The top three institutional holders of JWN stocks are: VANGUARD GROUP INC with ownership of 10,459,699, which is approximately 1.269% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 9,498,982 shares of the stock with an approximate value of $215.15 million in JWN stocks shares; and FMR LLC, currently with $126.36 million in JWN stock with ownership of nearly -18.798% of the company’s market capitalization.

Positions in Nordstrom Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 165 institutional holders increased their position in Nordstrom Inc. [NYSE:JWN] by around 16,901,639 shares. Additionally, 183 investors decreased positions by around 21,265,932 shares, while 68 investors held positions by with 53,671,215 shares. The mentioned changes placed institutional holdings at 91,838,786 shares, according to the latest SEC report filing. JWN stock had 36 new institutional investments in for a total of 7,309,635 shares, while 71 institutional investors sold positions of 2,944,223 shares during the same period.


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