Guggenheim Securities Initiates Coverage on Nordstrom to Buy

Guggenheim Securities Initiates Coverage on Nordstrom(NYSE:JWN). The shares have been rated Buy. The rating by Guggenheim Securities was issued on Sep 30, 2016.

In a different note, On Aug 12, 2016, Citigroup said it Maintains its rating on Nordstrom. In the research note, the firm Raises the price-target to $40.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 12, 2016, Deutsche Bank said it Maintains its rating on Nordstrom. In the research note, the firm Raises the price-target to $47.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 12, 2016, Goldman Sachs said it Maintains its rating on Nordstrom. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 12, 2016, UBS said it Maintains its rating on Nordstrom. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 1, 2016, Goldman Sachs said it Assumes its rating on Nordstrom. The shares have been rated ‘Neutral’ by the firm. On Jul 26, 2016, PiperJaffray said it Upgrades its rating on Nordstrom. The shares have been rated ‘Overweight’ by the firm.

Nordstrom (JWN) made into the market gainers list on Tuesdays trading session with the shares advancing 1.06% or 0.54 points. Due to strong positive momentum, the stock ended at $51.65, which is also near the day’s high of $51.78. The stock began the session at $51.12 and the volume stood at 21,08,310 shares. The 52-week high of the shares is $75.6725 and the 52 week low is $35.01. The company has a current market capitalization of $8,958 M and it has 17,34,40,080 shares in outstanding.

Nordstrom(JWN) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.59B. Analysts had an estimated revenue of $3.67B. Earnings per share were $0.67. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Sep 26, 2016, Daniel F Little (Executive Vice President) sold 5,270 shares at $52.00 per share price.Also, On Apr 4, 2016, Geevy Sk Thomas (Executive Vice President) sold 155 shares at $57.10 per share price.On Mar 30, 2016, Blake W Nordstrom (President) sold 1,557 shares at $50.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Nordstrom Inc. is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com approximately 167 off-price Nordstrom Rack stores two Canada full-line stores Nordstromrack.com and HauteLook and other retail channels including five Trunk Club showrooms and TrunkClub.com its two Jeffrey boutiques and one clearance store that operates under the name Last Chance. Credit segment includes its wholly owned federal savings bank Nordstrom fsb through which it provides a private label credit card two Nordstrom VISA credit cards and a debit card. The Company operated 290 United States stores located in 38 states as well as an e-commerce business through Nordstrom.com Nordstromrack.com and HauteLook and TrunkClub.com as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.

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