J C Penney (NYSE:JCP) received a $4.00 target price from stock analysts at Piper Jaffray Companies in a report issued on Wednesday. The brokerage currently has a “hold” rating on the department store operator’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 0.76% from the company’s previous close.

JCP has been the topic of several other research reports. Citigroup raised their target price on shares of J C Penney from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Cowen set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a report on Thursday, November 30th. Jefferies Group reaffirmed a “hold” rating and issued a $4.00 target price on shares of J C Penney in a report on Thursday, September 14th. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Finally, Northcoast Research cut shares of J C Penney from a “buy” rating to a “neutral” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.78.

Shares of J C Penney (NYSE:JCP) opened at $3.97 on Wednesday. The firm has a market cap of $1,230.00, a P/E ratio of -6.51, a P/E/G ratio of 2.86 and a beta of 0.58. J C Penney has a 1-year low of $2.35 and a 1-year high of $7.42. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95.

J C Penney (NYSE:JCP) last issued its earnings results on Friday, November 10th. The department store operator reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.10. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative net margin of 4.56% and a negative return on equity of 45.98%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. equities analysts forecast that J C Penney will post 0.08 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in JCP. Bank of New York Mellon Corp raised its holdings in J C Penney by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 3,689,064 shares of the department store operator’s stock worth $17,154,000 after purchasing an additional 329,909 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in J C Penney by 93.9% during the second quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock worth $7,577,000 after purchasing an additional 789,312 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in J C Penney by 219.6% during the second quarter. Thrivent Financial For Lutherans now owns 186,920 shares of the department store operator’s stock worth $869,000 after purchasing an additional 128,430 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in J C Penney during the second quarter worth approximately $5,140,000. Finally, Pinebridge Investments L.P. acquired a new stake in J C Penney during the second quarter worth approximately $190,000. 72.73% of the stock is currently owned by institutional investors.

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About J C Penney

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.

Analyst Recommendations for J C Penney (NYSE:JCP)

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