Shares of J C Penney Company Inc (NYSE:JCP) have been given an average rating of “Hold” by the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.93.

A number of brokerages have recently issued reports on JCP. Piper Jaffray Companies reissued a “hold” rating and issued a $1.50 target price on shares of J C Penney in a research report on Friday, August 17th. B. Riley reduced their target price on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Friday, August 17th. Bank of America cut shares of J C Penney from a “buy” rating to an “underperform” rating in a research report on Thursday, August 16th. Citigroup reduced their target price on shares of J C Penney to $2.00 and set a “sell” rating for the company in a research report on Friday, August 17th. Finally, Zacks Investment Research cut shares of J C Penney from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 21st.

A number of institutional investors and hedge funds have recently bought and sold shares of JCP. Contrarius Investment Management Ltd lifted its position in J C Penney by 281.1% during the second quarter. Contrarius Investment Management Ltd now owns 14,626,462 shares of the department store operator’s stock worth $34,226,000 after purchasing an additional 10,788,248 shares during the period. Tyvor Capital LLC bought a new stake in J C Penney during the third quarter worth about $10,871,000. BlackRock Inc. lifted its position in J C Penney by 5.2% during the second quarter. BlackRock Inc. now owns 41,765,412 shares of the department store operator’s stock worth $97,730,000 after purchasing an additional 2,062,002 shares during the period. Aristotle Fund L.P. lifted its position in J C Penney by 31.5% during the second quarter. Aristotle Fund L.P. now owns 6,234,000 shares of the department store operator’s stock worth $14,588,000 after purchasing an additional 1,495,000 shares during the period. Finally, Strs Ohio lifted its position in J C Penney by 21.7% during the second quarter. Strs Ohio now owns 5,600,000 shares of the department store operator’s stock worth $13,104,000 after purchasing an additional 1,000,000 shares during the period. 73.13% of the stock is owned by institutional investors and hedge funds.

Shares of J C Penney stock opened at $1.39 on Friday. The stock has a market capitalization of $427.43 million, a PE ratio of 6.32 and a beta of 0.81. J C Penney has a 52-week low of $1.04 and a 52-week high of $4.75. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.58 and a quick ratio of 0.17.

J C Penney (NYSE:JCP) last announced its earnings results on Thursday, November 15th. The department store operator reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.05. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.81 billion. J C Penney had a negative net margin of 0.62% and a negative return on equity of 13.97%. During the same quarter in the previous year, the business posted ($0.33) earnings per share. As a group, analysts anticipate that J C Penney will post -0.93 earnings per share for the current year.

About J C Penney

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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Analyst Recommendations for J C Penney (NYSE:JCP)

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