J.C. Penney Company, Inc. Holding Company (JCP) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) from a hold rating to a buy rating in a research report sent to investors on Tuesday, August 1st.

JCP has been the subject of a number of other research reports. UBS AG restated a sell rating and set a $4.00 target price (down previously from $5.00) on shares of J.C. Penney Company, Inc. Holding in a research report on Wednesday, May 17th. CIBC reaffirmed a market perform rating on shares of J.C. Penney Company, Inc. Holding in a research note on Tuesday, May 23rd. Credit Suisse Group reaffirmed a sell rating and set a $5.00 price objective on shares of J.C. Penney Company, Inc. Holding in a research note on Friday, June 16th. Citigroup Inc. boosted their target price on J.C. Penney Company, Inc. Holding from $4.50 to $5.00 and gave the company a neutral rating in a research note on Wednesday, July 12th. Finally, Gordon Haskett raised J.C. Penney Company, Inc. Holding from a reduce rating to a hold rating and set a $4.50 target price for the company in a research note on Monday, June 26th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $5.80.

J.C. Penney Company, Inc. Holding (NYSE:JCP) opened at 3.60 on Tuesday. J.C. Penney Company, Inc. Holding has a one year low of $3.45 and a one year high of $10.74. The stock’s 50 day moving average price is $4.82 and its 200-day moving average price is $5.44. The firm’s market capitalization is $1.12 billion.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last released its earnings results on Friday, August 11th. The department store operator reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.84 billion. J.C. Penney Company, Inc. Holding had a positive return on equity of 10.55% and a negative net margin of 0.94%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities research analysts anticipate that J.C. Penney Company, Inc. Holding will post $0.43 earnings per share for the current fiscal year.

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In other J.C. Penney Company, Inc. Holding news, Chairman Marvin R. Ellison bought 100,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $3.48 per share, for a total transaction of $348,000.00. Following the purchase, the chairman now directly owns 2,852,280 shares of the company’s stock, valued at $9,925,934.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.02% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in JCP. Cambridge Investment Research Advisors Inc. increased its position in shares of J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after buying an additional 4,205 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of J.C. Penney Company, Inc. Holding by 14.5% in the first quarter. Meadow Creek Investment Management LLC now owns 17,472 shares of the department store operator’s stock worth $108,000 after buying an additional 2,212 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of J.C. Penney Company, Inc. Holding during the first quarter worth $117,000. FNY Managed Accounts LLC acquired a new position in shares of J.C. Penney Company, Inc. Holding during the first quarter worth $117,000. Finally, Janney Montgomery Scott LLC increased its position in shares of J.C. Penney Company, Inc. Holding by 84.4% in the first quarter. Janney Montgomery Scott LLC now owns 19,818 shares of the department store operator’s stock worth $122,000 after buying an additional 9,068 shares during the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.

J.C. Penney Company, Inc. Holding Company Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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