JPMorgan Chase & Co. lowered shares of J C Penney (NYSE:JCP) from a neutral rating to an underweight rating in a research note released on Thursday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $10.00 price target on the department store operator’s stock.

JCP has been the topic of a number of other research reports. Zacks Investment Research lowered J C Penney from a hold rating to a sell rating in a research report on Wednesday, July 18th. Morgan Stanley set a $3.00 price objective on J C Penney and gave the stock a hold rating in a research report on Monday, May 21st. B. Riley reduced their price objective on J C Penney to $3.00 and set a neutral rating on the stock in a research report on Friday, May 18th. Susquehanna Bancshares restated a neutral rating on shares of J C Penney in a research report on Thursday, June 7th. Finally, Piper Jaffray Companies set a $3.00 price objective on J C Penney and gave the stock a hold rating in a research report on Tuesday, May 22nd. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $3.10.

Shares of JCP stock opened at $1.79 on Thursday. The firm has a market cap of $760.58 million, a P/E ratio of 8.14 and a beta of 0.87. J C Penney has a twelve month low of $1.60 and a twelve month high of $4.75. The company has a debt-to-equity ratio of 3.31, a quick ratio of 0.21 and a current ratio of 1.73.

J C Penney (NYSE:JCP) last issued its quarterly earnings data on Thursday, August 16th. The department store operator reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. J C Penney had a negative return on equity of 1.62% and a negative net margin of 0.11%. The company’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. equities research analysts expect that J C Penney will post 0.03 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Natixis lifted its holdings in J C Penney by 13.7% during the 2nd quarter. Natixis now owns 1,183,549 shares of the department store operator’s stock worth $2,770,000 after buying an additional 142,795 shares during the period. CSat Investment Advisory L.P. acquired a new position in J C Penney during the 2nd quarter worth about $222,000. OppenheimerFunds Inc. lifted its holdings in J C Penney by 12.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,753,790 shares of the department store operator’s stock worth $6,444,000 after buying an additional 313,253 shares during the period. ING Groep NV lifted its holdings in J C Penney by 13.7% during the 2nd quarter. ING Groep NV now owns 773,346 shares of the department store operator’s stock worth $1,810,000 after buying an additional 93,000 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in J C Penney by 14.2% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,094,486 shares of the department store operator’s stock worth $2,561,000 after buying an additional 136,170 shares during the period. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

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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