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Nordstrom Inc: Still in Fashion
Guest blogger: Larry Schutts, vice president of Stockwinners.com and a contributing editor for Theflyonthewall.com. Larry looks for stocks with technical and fundamental characteristics indicating gains in the next 30 days. However, price movements may be volatile. He includes a stop-loss price in each post. Consider selling a position should the stop-loss be violated. Look for Larry's stock picks in the days and weeks to come.Nordstrom Inc. (NYSE:JWN) is a leading U.S. fashion retailer, with outlets in 28 states. The firm operates 101 full-line stores, 51 Nordstrom Racks, two Jeffrey boutiques, one free-standing shoe store and two clearance facilities. It also serves customers through catalogs and a web site.
The stock has been a steady gainer recently, rising on such developments as better than expected Q3 earnings/revenues,
upside guidance for Q4/FY08 EPS, favorable analyst remarks, much better
than expected November same-store sales, and word of insider buying.
The news has kept JWN shares cycling through a positive six-week
trading channel. The price is currently consolidating at the base of
that channel, where oversold MACD and Stochastic technical parameters
suggest the potential for a rise back toward the top. The
correspondence of the stock's 30-day moving average to the base of the
channel backs the rebound notion.
Brokers recommend the issue with three "strong buys," three "buys," thirteen "holds" and one "sell." Analysts expect a 13% growth rate, through the next year. The JWN P/E ratio (12.30), PEG ratio (1.06), Price to Sales ratio (0.91), Price to Cash Flow ratio (8.05), EPS Growth rate (13.46%), Return on Assets (14.42%), Return on Investment (21.42%) and Return on Equity (44.98%) compare favorably with industry, sector and S&P 500 averages. Institutions hold about 74% of the outstanding shares. The stock is one of those used to calculate the S&P 500 Index. Over the past 52 weeks, it has traded between $30.46 and $59.70. A stop-loss of $30.70 looks good here. Note that Nordstrom is expected to report Q4 results in late February.
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p.s. I bought Target..friday before close...does that count...It's almost JWN...
and JBX...is a 30% gain, if it can make it back to it's 200 day...which I think it will... -
Hi Hillary
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12/27/07 3:57 AM
after buying Target on Friday are you concerned about Target's soft Q4 warning just announced on Monday?
"Target Corp. warned late Monday that its same-store sales might decline for December"