Zacks Investment Research upgraded shares of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.
According to Zacks, “The impact of challenging retail landscape, stiff competition from online retailers and waning store traffic is clearly visible on J. C. Penney’s shares performance that have underperformed the industry in a year. The company has been grappling with dismal comparable sales over the past few quarters. Further, the company’s higher debt level also raises a concern. Nevertheless, in an effort to lure customers and ramp up sales, management has introduced a new loyalty program. These along with remodeling, renovation and refurbishment of stores with special attention on enhancing the reach of national and especially private-label brands looks promising. J. C. Penney is also gradually increasing the count of Sephora stores which is going great business. Of late, estimates have been stable ahead of the company’s third quarter earnings release.”
JCP has been the subject of several other reports. Cowen and Company set a $6.00 target price on J.C. Penney Company, Inc. Holding and gave the stock a hold rating in a report on Friday, August 11th. B. Riley reaffirmed a buy rating and set a $4.30 target price on shares of J.C. Penney Company, Inc. Holding in a report on Wednesday, August 16th. Citigroup Inc. raised their target price on J.C. Penney Company, Inc. Holding from $4.50 to $5.00 and gave the company a neutral rating in a research report on Wednesday, July 12th. Gordon Haskett raised J.C. Penney Company, Inc. Holding from a reduce rating to a hold rating and set a $4.50 price objective for the company in a research note on Monday, June 26th. Finally, BidaskClub raised J.C. Penney Company, Inc. Holding from a sell rating to a hold rating in a research note on Saturday, August 26th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $5.06.
Shares of J.C. Penney Company, Inc. Holding (NYSE:JCP) traded up $0.16 during trading on Tuesday, reaching $2.53. The company’s stock had a trading volume of 21,460,618 shares, compared to its average volume of 17,680,000. The company has a market cap of $786.18, a P/E ratio of 5.93 and a beta of 0.53. The company has a quick ratio of 0.24, a current ratio of 1.45 and a debt-to-equity ratio of 3.51. J.C. Penney Company, Inc. Holding has a 12 month low of $2.37 and a 12 month high of $10.74.
J.C. Penney Company, Inc. Holding (NYSE:JCP) last announced its quarterly earnings data on Friday, August 11th. The department store operator reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned ($0.05) EPS. The business’s revenue was up 1.5% compared to the same quarter last year. equities analysts anticipate that J.C. Penney Company, Inc. Holding will post 0.06 EPS for the current year.
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In other J.C. Penney Company, Inc. Holding news, CFO Jeffrey A. Davis bought 50,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $3.62 per share, with a total value of $181,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 72,645 shares of the company’s stock, valued at approximately $262,974.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Javier G. Teruel purchased 135,135 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $491,891.40. Following the acquisition, the director now owns 518,970 shares of the company’s stock, valued at approximately $1,889,050.80. The disclosure for this purchase can be found here. Insiders have acquired a total of 310,135 shares of company stock valued at $1,111,391 over the last ninety days. 1.02% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in JCP. Cambridge Investment Research Advisors Inc. increased its stake in shares of J.C. Penney Company, Inc. Holding by 33.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock valued at $103,000 after acquiring an additional 4,205 shares during the period. FNY Managed Accounts LLC acquired a new position in J.C. Penney Company, Inc. Holding in the first quarter worth approximately $117,000. Tudor Investment Corp ET AL grew its position in J.C. Penney Company, Inc. Holding by 12.8% during the 1st quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock worth $141,000 after purchasing an additional 2,600 shares in the last quarter. First Financial Equity Corporation purchased a new position in J.C. Penney Company, Inc. Holding during the 1st quarter worth approximately $165,000. Finally, FNY Partners Fund LP acquired a new stake in shares of J.C. Penney Company, Inc. Holding during the 1st quarter valued at $188,000. 71.99% of the stock is currently owned by institutional investors.
About J.C. Penney Company, Inc. Holding
J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.
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