J C Penney (NYSE:JCP) Stock Price Up 6.6%

J C Penney Company Inc (NYSE:JCP) rose 6.6% during trading on Thursday . The stock traded as high as $1.13 and last traded at $1.13. Approximately 4,725,348 shares changed hands during trading, a decline of 50% from the average daily volume of 9,371,354 shares. The stock had previously closed at $1.06.

JCP has been the topic of several analyst reports. B. Riley set a $1.00 target price on J C Penney and gave the company a “hold” rating in a report on Friday, May 17th. Zacks Investment Research upgraded J C Penney from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus price target of $2.53.

The company has a quick ratio of 0.24, a current ratio of 1.51 and a debt-to-equity ratio of 4.75. The firm has a market capitalization of $358.00 million, a PE ratio of -1.19 and a beta of 1.34.

J C Penney (NYSE:JCP) last posted its quarterly earnings data on Tuesday, May 21st. The department store operator reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). J C Penney had a negative return on equity of 33.29% and a negative net margin of 2.78%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. J C Penney’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts forecast that J C Penney Company Inc will post -1.04 EPS for the current year.

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

Hedge funds have recently bought and sold shares of the business. Actinver Wealth Management Inc. acquired a new position in shares of J C Penney in the 4th quarter worth approximately $48,000. Marshall Wace North America L.P. acquired a new position in shares of J C Penney in the 1st quarter worth approximately $41,000. Regentatlantic Capital LLC acquired a new position in shares of J C Penney in the 1st quarter worth approximately $41,000. D. E. Shaw & Co. Inc. grew its position in shares of J C Penney by 245.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock worth $30,000 after acquiring an additional 49,187 shares in the last quarter. Finally, Magnus Financial Group LLC acquired a new position in shares of J C Penney in the 1st quarter worth approximately $53,000. Institutional investors own 70.54% of the company’s stock.

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J C Penney Company Profile (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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