J.C. Penney Company, Inc. Holding Company (JCP) PT Raised to $4.00

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) had its target price lifted by equities researchers at Citigroup Inc. from $3.00 to $4.00 in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the department store operator’s stock. Citigroup Inc.’s price target would indicate a potential upside of 28.21% from the company’s current price.

A number of other research firms also recently commented on JCP. Piper Jaffray Companies set a $4.00 target price on J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $7.00 target price on shares of J.C. Penney Company, Inc. Holding in a research report on Tuesday, July 4th. BMO Capital Markets set a $4.00 target price on J.C. Penney Company, Inc. Holding and gave the stock a “market perform” rating in a research report on Saturday, August 12th. Finally, Credit Suisse Group downgraded J.C. Penney Company, Inc. Holding to a “sell” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. J.C. Penney Company, Inc. Holding has an average rating of “Hold” and an average price target of $5.64.

Shares of J.C. Penney Company, Inc. Holding (JCP) traded down 14.75% during trading on Friday, hitting $3.12. The stock had a trading volume of 93,424,664 shares. The stock has a 50 day moving average of $3.76 and a 200 day moving average of $4.55. J.C. Penney Company, Inc. Holding has a 12 month low of $2.76 and a 12 month high of $10.74. The company’s market cap is $969.51 million.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last posted its earnings results on Friday, August 11th. The department store operator reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations 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%. J.C. Penney Company, Inc. Holding’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Equities analysts forecast that J.C. Penney Company, Inc. Holding will post $0.43 EPS for the current fiscal year.

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In other news, Chairman Marvin R. Ellison acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $3.48 per share, with a total value of $348,000.00. Following the completion of the purchase, the chairman now directly owns 2,852,280 shares in the company, valued at $9,925,934.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Davis acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $3.62 per share, for a total transaction of $181,000.00. Following the purchase, the chief financial officer now owns 72,645 shares of the company’s stock, valued at $262,974.90. The disclosure for this purchase can be found here. In the last three months, insiders purchased 310,135 shares of company stock worth $1,111,391. 1.02% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in JCP. Cambridge Investment Research Advisors Inc. grew its stake in 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 purchasing an additional 4,205 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in J.C. Penney Company, Inc. Holding by 12.8% in the first quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock worth $141,000 after purchasing an additional 2,600 shares in the last quarter. Blair William & Co. IL grew its stake in J.C. Penney Company, Inc. Holding by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after purchasing an additional 1,000 shares in the last quarter. Quinn Opportunity Partners LLC grew its stake in J.C. Penney Company, Inc. Holding by 13.9% in the second quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock worth $190,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in J.C. Penney Company, Inc. Holding in the second quarter worth approximately $190,000. 72.32% of the stock is currently owned by institutional investors.

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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