Nordstrom Inc Receives a Hold from Piper Jaffray

By Jason Carr

Piper Jaffray analyst Neely Tamminga resumed coverage with a Hold rating on Nordstrom Inc (NYSE: JWN) today and set a price target of $41. The company’s shares opened today at $44.31.

According to TipRanks.com, Tamminga is a 1-star analyst with an average return of -1.8% and a 45.1% success rate. Tamminga covers the Services sector, focusing on stocks such as Christopher & Banks Corp, Ascena Retail Group, and Abercrombie Fitch.

Currently, the analyst consensus on Nordstrom Inc is Hold and the average price target is $53.50, representing a 20.7% upside.

In a report issued on February 14, RBC Capital also reiterated a Hold rating on the stock with a $50 price target.

Nordstrom Inc’s market cap is currently $7.65B and has a P/E ratio of 23.63. The company has a book value ratio of 8.8976.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2016, Enrique Hernandez, a Director at JWN sold 24,534 shares for a total of $1,432,050.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Nordstrom, Inc. engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following 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. The Corporate/Other segment includes sales return reserve, expenses, and assets. The company was founded by John W. Nordstrom in 1901 and is headquartered in Seattle, WA.