J C Penney Company Inc (NYSE:JCP)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.58, but opened at $0.61. J C Penney shares last traded at $0.61, with a volume of 3,577,859 shares changing hands.

A number of research analysts have recently weighed in on JCP shares. Zacks Investment Research lowered J C Penney from a “buy” rating to a “strong sell” rating in a research report on Wednesday, May 1st. B. Riley started coverage on J C Penney in a research report on Friday, August 16th. They set a “hold” rating and a $1.00 price objective for the company. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.55.

The stock has a market cap of $191.67 million, a PE ratio of -0.64 and a beta of 1.59. The stock has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $1.18. The company has a debt-to-equity ratio of 4.86, a current ratio of 1.37 and a quick ratio of 0.21.

J C Penney (NYSE:JCP) last released its quarterly earnings results on Thursday, August 15th. The department store operator reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.14. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.62 billion. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.38) earnings per share. Equities research analysts expect that J C Penney Company Inc will post -1.19 earnings per share for the current year.

In related news, Director Javier G. Teruel purchased 223,419 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $0.98 per share, for a total transaction of $218,950.62. Following the completion of the transaction, the director now owns 1,045,903 shares in the company, valued at approximately $1,024,984.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe acquired 1,000,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $0.59 per share, with a total value of $590,000.00. Following the purchase, the director now owns 1,352,128 shares of the company’s stock, valued at $797,755.52. The disclosure for this purchase can be found here. Company insiders own 1.41% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its stake in J C Penney by 2.5% during the fourth quarter. Northern Trust Corp now owns 3,781,122 shares of the department store operator’s stock worth $3,932,000 after purchasing an additional 91,404 shares during the last quarter. Geode Capital Management LLC lifted its stake in J C Penney by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 3,180,439 shares of the department store operator’s stock worth $3,307,000 after purchasing an additional 167,783 shares during the last quarter. Two Sigma Advisers LP bought a new stake in J C Penney during the fourth quarter worth about $101,000. Metropolitan Life Insurance Co. NY lifted its stake in J C Penney by 313.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 92,866 shares of the department store operator’s stock worth $97,000 after purchasing an additional 70,423 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in J C Penney by 157.8% during the fourth quarter. Millennium Management LLC now owns 75,468 shares of the department store operator’s stock worth $78,000 after purchasing an additional 46,192 shares during the last quarter. 69.34% of the stock is owned by institutional investors and hedge funds.

J C Penney Company Profile (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, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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