Shares of J C Penney Company Inc (NYSE:JCP) gapped down before the market opened on Friday . The stock had previously closed at $1.18, but opened at $1.08. J C Penney shares last traded at $0.90, with a volume of 22,263,557 shares changing hands.

Several analysts have recently commented on the stock. B. Riley set a $2.00 price target on shares of Ascena Retail Group and gave the company a “hold” rating in a research report on Friday, May 17th. Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. J C Penney has an average rating of “Sell” and an average price target of $2.53.

The stock has a market capitalization of $342.17 million, a P/E ratio of -0.96 and a beta of 1.58. The company has a current ratio of 1.51, a quick ratio of 0.24 and a debt-to-equity ratio of 4.75. The business’s 50-day moving average is $1.09.

J C Penney (NYSE:JCP) last announced its earnings results on Tuesday, May 21st. The department store operator reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.49 billion. J C Penney had a negative net margin of 2.78% and a negative return on equity of 33.29%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.22) EPS. As a group, equities research analysts predict that J C Penney Company Inc will post -1.04 EPS for the current fiscal year.

In other news, Director Javier G. Teruel bought 223,419 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were bought at an average price of $0.98 per share, with a total value of $218,950.62. Following the completion of the transaction, the director now directly owns 1,045,903 shares in the company, valued at $1,024,984.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. increased its holdings in J C Penney by 16.3% in the second quarter. Crossmark Global Holdings Inc. now owns 169,140 shares of the department store operator’s stock valued at $193,000 after buying an additional 23,726 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in J C Penney by 103.9% in the first quarter. MetLife Investment Advisors LLC now owns 142,487 shares of the department store operator’s stock valued at $212,000 after buying an additional 72,608 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in J C Penney in the first quarter valued at about $41,000. Commonwealth Bank of Australia increased its holdings in J C Penney by 6.7% in the first quarter. Commonwealth Bank of Australia now owns 430,800 shares of the department store operator’s stock valued at $641,000 after buying an additional 27,100 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in J C Penney in the first quarter valued at about $53,000. 70.54% of the stock is currently owned by institutional investors.

About J C Penney (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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