J.C. Penney Company, Inc. Holding Company (NYSE:JCP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) from a sell rating to a hold rating in a research report released on Tuesday, October 17th.

According to Zacks, “The impact of challenging retail landscape, stiff competition from online retailers and waning store traffic is clearly visible on J. C. Penney’s shares performance that have underperformed the industry in a year. The company has been grappling with dismal comparable sales over the past few quarters. Further, the company’s higher debt level also raises a concern. Nevertheless, in an effort to lure customers and ramp up sales, management has introduced a new loyalty program. These along with remodeling, renovation and refurbishment of stores with special attention on enhancing the reach of national and especially private-label brands looks promising. J. C. Penney is also gradually increasing the count of Sephora stores which is going great business. Of late, estimates have been stable ahead of the company’s third quarter earnings release.”



A number of other research analysts also recently issued reports on JCP. Gordon Haskett upgraded J.C. Penney Company, Inc. Holding from a reduce rating to a hold rating and set a $4.50 price target on the stock in a report on Monday, June 26th. BidaskClub upgraded J.C. Penney Company, Inc. Holding from a sell rating to a hold rating in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a hold rating and issued a $7.00 price target on shares of J.C. Penney Company, Inc. Holding in a report on Tuesday, July 4th. BMO Capital Markets set a $6.00 price objective on J.C. Penney Company, Inc. Holding and gave the stock a hold rating in a research report on Monday, July 10th. Finally, Citigroup Inc. raised their price objective on J.C. Penney Company, Inc. Holding from $4.50 to $5.00 and gave the stock a neutral rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $5.64.

J.C. Penney Company, Inc. Holding (NYSE:JCP) traded down 14.75% on Tuesday, reaching $3.12. The company’s stock had a trading volume of 93,424,664 shares. The firm’s market capitalization is $969.51 million. J.C. Penney Company, Inc. Holding has a 52 week low of $2.76 and a 52 week high of $10.74. The company has a 50 day moving average of $3.80 and a 200 day moving average of $4.57.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last announced its quarterly earnings results on Friday, August 11th. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, analysts forecast that J.C. Penney Company, Inc. Holding will post $0.43 earnings per share for the current year.

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In other J.C. Penney Company, Inc. Holding news, Chairman Marvin R. Ellison purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $3.48 per share, for a total transaction of $348,000.00. Following the purchase, the chairman now directly owns 2,852,280 shares in the company, valued at $9,925,934.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Brown purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $3.62 per share, with a total value of $90,500.00. Following the purchase, the director now owns 68,123 shares in the company, valued at $246,605.26. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 310,135 shares of company stock valued at $1,111,391. 1.02% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in JCP. Karp Capital Management Corp purchased a new position in shares of J.C. Penney Company, Inc. Holding in the 1st quarter valued at about $260,000. Prudential Financial Inc. increased its stake in shares of J.C. Penney Company, Inc. Holding by 6.8% in the 1st quarter. Prudential Financial Inc. now owns 189,502 shares of the department store operator’s stock valued at $1,167,000 after purchasing an additional 12,060 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of J.C. Penney Company, Inc. Holding by 77.1% in the 1st quarter. OppenheimerFunds Inc. now owns 512,143 shares of the department store operator’s stock valued at $3,155,000 after purchasing an additional 222,916 shares in the last quarter. Advantus Capital Management Inc increased its stake in shares of J.C. Penney Company, Inc. Holding by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 39,474 shares of the department store operator’s stock valued at $243,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of J.C. Penney Company, Inc. Holding by 45.7% in the 1st quarter. Teachers Advisors LLC now owns 14,525,136 shares of the department store operator’s stock valued at $89,475,000 after purchasing an additional 4,557,694 shares in the last quarter. Hedge funds and other institutional investors own 72.32% 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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