UBS AG Lowers J.C. Penney Co. Price Target to $7.00 (JCP)
Research analysts at UBS AG lowered their price objective on shares of J.C. Penney Co. (NYSE:JCP) from $10.00 to $7.00 in a report released on Friday, Analyst Ratings Network reports. The firm currently has a “sell” rating on the stock. UBS AG’s price objective suggests a potential downside of 22.65% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BTIG Research reiterated a “buy” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Friday. They now have a $11.00 price target on the stock, down previously from $22.00. Separately, analysts at Goldman Sachs Group Inc. cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $20.00 to $1.00 in a research note to investors on Friday. Finally, analysts at Buckingham Research downgraded shares of J.C. Penney Co. (NYSE:JCP) from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.52.
J.C. Penney Co. (NYSE:JCP) traded down 13.15% on Friday, hitting $9.05. The stock had a trading volume of 256,498,128 shares. J.C. Penney Co. has a 1-year low of $9.52 and a 1-year high of $27.00. The stock’s 50-day moving average is $13.15 and its 200-day moving average is $15.64. The company’s market cap is $1.996 billion. J.C. Penney Co. also saw some unusual options trading activity on Tuesday. Investors bought 70,268 put options on the stock. This represents an increase of approximately 212% compared to the average volume of 22,503 put options.
J.C. Penney Co. (NYSE:JCP) last announced its earnings results on Tuesday, August 20th. The company reported ($1.17) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.06) by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts expect that J.C. Penney Co. will post $-6.21 EPS for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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