J.C. Penney Company, Inc. Holding Company (JCP) Given a $3.00 Price Target by Robert W. Baird Analysts

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) has been assigned a $3.00 price objective by investment analysts at Robert W. Baird in a research report issued to clients and investors on Sunday. The firm currently has a “hold” rating on the department store operator’s stock. Robert W. Baird’s target price would suggest a potential upside of 4.53% from the company’s previous close.

A number of other brokerages have also weighed in on JCP. Piper Jaffray Companies set a $4.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Tuesday, July 4th. Citigroup Inc. reduced their price target on shares of J.C. Penney Company, Inc. Holding from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. Finally, BMO Capital Markets set a $4.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the stock a “market perform” rating in a research note on Saturday, August 12th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.06.

J.C. Penney Company, Inc. Holding (NYSE:JCP) opened at 2.87 on Friday. The firm has a 50-day moving average of $3.73 and a 200-day moving average of $4.50. The stock’s market capitalization is $891.83 million. J.C. Penney Company, Inc. Holding has a one year low of $2.76 and a one year high of $10.74.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last issued its quarterly 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 company had revenue of $2.96 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, equities research analysts forecast that J.C. Penney Company, Inc. Holding will post $0.22 earnings per share for the current year.

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In related news, Director Paul J. Brown acquired 25,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $3.62 per share, for a total transaction of $90,500.00. Following the purchase, the director now owns 68,123 shares in the company, valued at $246,605.26. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Davis acquired 50,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price 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 in the company, valued at approximately $262,974.90. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 310,135 shares of company stock worth $1,111,391. Company insiders own 1.02% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new position in J.C. Penney Company, Inc. Holding in the 2nd quarter valued at approximately $311,000. Geode Capital Management LLC increased its stake in J.C. Penney Company, Inc. Holding by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 2,324,781 shares of the department store operator’s stock valued at $14,320,000 after buying an additional 106,121 shares during the period. Rhumbline Advisers increased its stake in J.C. Penney Company, Inc. Holding by 10.6% in the 2nd quarter. Rhumbline Advisers now owns 629,809 shares of the department store operator’s stock valued at $2,929,000 after buying an additional 60,340 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in J.C. Penney Company, Inc. Holding by 33.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock valued at $103,000 after buying an additional 4,205 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in J.C. Penney Company, Inc. Holding in the 2nd quarter valued at approximately $5,140,000. Hedge funds and other institutional investors own 72.14% of the company’s stock.

About J.C. Penney Company, Inc. Holding

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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