Nordstrom Inc (JWN) Gets a Hold Rating from Piper Jaffray


In a report released yesterday, Erinn Murphy from Piper Jaffray reiterated a Hold rating on Nordstrom Inc (NYSE: JWN), with a price target of $49. The company’s shares closed yesterday at $59.18, close to its 52-week high of $59.25.

According to TipRanks.com, Murphy is a 1-star analyst with an average return of -0.5% and a 49.0% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Wolverine World Wide, and G-III Apparel Group.

Nordstrom Inc has an analyst consensus of Moderate Buy, with a price target consensus of $58.83, a -0.6% downside from current levels. In a report issued on August 16, Guggenheim also maintained a Hold rating on the stock.

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Based on Nordstrom Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $4.07 billion and net profit of $162 million. In comparison, last year the company earned revenue of $3.79 billion and had a net profit of $110 million.

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Nordstrom, Inc. engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following business segments: Retail; Credit; and Corporate/Other. The Retail segment manages physical stores and online shops. The Credit segment offers a range of payment options to customers.

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