Nordstrom (JWN) in Focus: Stock Moves 6% Higher
Nordstrom, Inc.JWN was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $43.77 to $46.72 in the past one-month time frame.
The company’s shares rose following rumors that Nordstrom is close to reaching a deal with private-equity firm Leonard Green to take the company private.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Nordstrom. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Nordstrom, Inc. Price
Nordstrom, Inc. Price | Nordstrom, Inc. Quote
Nordstrom currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the retail sector is Abercrombie & Fitch Co. ANF, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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