J.C. Penney Co. (NYSE:JCP) Receives $11.58 Average Target Price from Analysts
J.C. Penney Co. (NYSE:JCP) has been given a consensus rating of “Hold” by the twenty-seven brokerages that are presently covering the firm. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.58.
JCP has been the subject of a number of research reports. Vetr raised J.C. Penney from a “buy” rating to a “strong-buy” rating and set a $10.35 price target for the company in a research report on Monday, October 3rd. Guggenheim initiated coverage on J.C. Penney in a research report on Friday, September 30th. They set a “neutral” rating for the company. Argus reaffirmed a “hold” rating on shares of J.C. Penney in a research report on Wednesday, July 6th. Zacks Investment Research raised J.C. Penney from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, August 16th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $10.00 price target on shares of J.C. Penney in a research report on Monday, August 15th.
In other J.C. Penney news, Chairman Marvin R. Ellison acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were purchased at an average cost of $9.92 per share, for a total transaction of $496,000.00. Following the completion of the acquisition, the chairman now owns 2,557,317 shares of the company’s stock, valued at approximately $25,368,584.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JCP. Quadrature Capital Ltd acquired a new position in J.C. Penney during the first quarter worth approximately $1,236,000. Primecap Management Co. CA boosted its position in J.C. Penney by 114.7% in the first quarter. Primecap Management Co. CA now owns 1,000,000 shares of the department store operator’s stock worth $11,060,000 after buying an additional 534,300 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in J.C. Penney during the first quarter worth approximately $660,000. M&T Bank Corp boosted its position in J.C. Penney by 33.8% in the first quarter. M&T Bank Corp now owns 29,247 shares of the department store operator’s stock worth $324,000 after buying an additional 7,389 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in J.C. Penney during the first quarter worth approximately $252,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
J.C. Penney (NYSE:JCP) opened at 9.44 on Wednesday. J.C. Penney has a 12-month low of $6.00 and a 12-month high of $11.99. The firm’s 50-day moving average price is $9.68 and its 200-day moving average price is $9.25. The stock’s market cap is $2.90 billion.
J.C. Penney (NYSE:JCP) last issued its quarterly earnings results on Friday, August 12th. The department store operator reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.10. J.C. Penney had a negative return on equity of 10.18% and a negative net margin of 3.11%. The company earned $2.92 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm posted ($0.41) EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts predict that J.C. Penney will post $0.16 EPS for the current fiscal year.
J.C. Penney Company Profile
J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.
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