J C Penney Company Inc (NYSE:JCP) shot up 11.5% during trading on Thursday . The stock traded as high as $1.43 and last traded at $1.36. 39,511,559 shares were traded during trading, an increase of 143% from the average session volume of 16,262,980 shares. The stock had previously closed at $1.22.

Several research analysts have issued reports on JCP shares. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Bank of America downgraded shares of J C Penney from a “buy” rating to an “underperform” rating in a research report on Thursday, August 16th. JPMorgan Chase & Co. downgraded shares of J C Penney from a “neutral” rating to an “underweight” rating and set a $10.00 price objective on the stock. in a research report on Thursday, August 16th. Piper Jaffray Companies reissued a “hold” rating and set a $1.50 price objective on shares of J C Penney in a research report on Friday, August 17th. Finally, Citigroup lowered their price objective on shares of J C Penney to $2.00 and set a “sell” rating on the stock in a research report on Friday, August 17th. Five analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. J C Penney presently has an average rating of “Hold” and a consensus price target of $3.09.

The company has a current ratio of 1.63, a quick ratio of 0.20 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $402.29 million, a PE ratio of 6.18 and a beta of 0.97.

J C Penney (NYSE:JCP) last issued its quarterly earnings data on Thursday, August 16th. The department store operator reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.32). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. J C Penney had a negative return on equity of 8.98% and a negative net margin of 0.43%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, analysts anticipate that J C Penney Company Inc will post -0.88 EPS for the current year.

Several large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC boosted its holdings in shares of J C Penney by 50.7% in the third quarter. MetLife Investment Advisors LLC now owns 215,154 shares of the department store operator’s stock valued at $357,000 after acquiring an additional 72,338 shares in the last quarter. Tyvor Capital LLC purchased a new stake in shares of J C Penney in the third quarter valued at about $10,871,000. Tower Research Capital LLC TRC boosted its holdings in shares of J C Penney by 3,772.8% in the third quarter. Tower Research Capital LLC TRC now owns 125,556 shares of the department store operator’s stock valued at $209,000 after acquiring an additional 122,314 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of J C Penney by 221.4% in the third quarter. Virtu Financial LLC now owns 317,738 shares of the department store operator’s stock valued at $486,000 after acquiring an additional 218,871 shares in the last quarter. Finally, Harbor Spring Capital LLC boosted its holdings in shares of J C Penney by 34.1% in the third quarter. Harbor Spring Capital LLC now owns 1,925,000 shares of the department store operator’s stock valued at $3,196,000 after acquiring an additional 489,000 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.

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About J C Penney (NYSE:JCP)

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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