Shares of J.C. Penney Co. (NYSE:JCP) have earned a consensus rating of “Hold” from the twenty-seven ratings firms that are covering the stock. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.46.

JCP has been the topic of several analyst reports. Zacks Investment Research upgraded shares of J.C. Penney from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, August 16th. Vetr downgraded shares of J.C. Penney from a “strong-buy” rating to a “buy” rating and set a $10.02 price objective for the company. in a research note on Monday, August 8th. Deutsche Bank AG reissued a “buy” rating and issued a $12.00 price objective on shares of J.C. Penney in a research note on Monday, August 15th. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of J.C. Penney in a research note on Monday, August 15th. Finally, Robert W. Baird set a $13.00 price objective on shares of J.C. Penney and gave the company a “buy” rating in a research note on Friday.

In other news, Chairman Marvin R. Ellison purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average cost of $9.92 per share, with a total value of $496,000.00. Following the completion of the transaction, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at $25,368,584.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC raised its position in J.C. Penney by 48.6% in the second quarter. Chartwell Investment Partners LLC now owns 7,433,289 shares of the department store operator’s stock worth $66,008,000 after buying an additional 2,429,635 shares during the last quarter. Vertex One Asset Management Inc. raised its position in J.C. Penney by 988.9% in the second quarter. Vertex One Asset Management Inc. now owns 2,450,000 shares of the department store operator’s stock worth $21,756,000 after buying an additional 2,225,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in J.C. Penney by 20.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,409,164 shares of the department store operator’s stock worth $101,313,000 after buying an additional 1,902,149 shares during the last quarter. TCW Group Inc. raised its position in J.C. Penney by 10.5% in the second quarter. TCW Group Inc. now owns 15,851,908 shares of the department store operator’s stock worth $140,765,000 after buying an additional 1,511,885 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in J.C. Penney by 13.3% in the second quarter. Teachers Advisors Inc. now owns 11,943,671 shares of the department store operator’s stock worth $106,060,000 after buying an additional 1,401,147 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

J.C. Penney (NYSE:JCP) opened at 9.16 on Wednesday. J.C. Penney has a one year low of $6.00 and a one year high of $11.99. The stock has a 50 day moving average of $8.81 and a 200 day moving average of $8.95. The firm’s market cap is $2.82 billion.

J.C. Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, November 11th. The department store operator reported ($0.21) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.95 billion. J.C. Penney had a negative net margin of 2.56% and a negative return on equity of 4.55%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. Equities research analysts predict that J.C. Penney will post $0.14 EPS for the current fiscal year.

About J.C. Penney

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.

5 Day Chart for NYSE:JCP

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