J.C. Penney Co. Price Target Cut to $10.00 (JCP)
Equities researchers at Robert W. Baird reduced their price target on shares of J.C. Penney Co. (NYSE:JCP) from $16.00 to $10.00 in a research report issued on Monday, American Banking & Market News reports. Robert W. Baird’s target price points to a potential upside of 13.57% from the stock’s previous close.
J.C. Penney Co. (NYSE:JCP) traded down 2.71% on Monday, hitting $8.805. The stock had a trading volume of 61,319,704 shares. J.C. Penney Co. has a 1-year low of $8.85 and a 1-year high of $27.00. The stock’s 50-day moving average is $13.03 and its 200-day moving average is $15.59. The company’s market cap is $1.942 billion. J.C. Penney Co. also was the target of some unusual options trading activity on Friday. Stock investors purchased 103,484 call options on the company. This is an increase of approximately 166% compared to the average volume of 38,908 call options.
J.C. Penney Co. (NYSE:JCP) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($1.17) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.37) earnings per share. J.C. Penney Co.’s revenue was down 11.9% compared to the same quarter last year. Analysts expect that J.C. Penney Co. will post $-6.23 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JCP. Analysts at JPMorgan Chase & Co. cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $13.00 to $8.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Maxim Group downgraded shares of J.C. Penney Co. (NYSE:JCP) from a “buy” rating to a “hold” rating in a research note to investors on Monday. Finally, analysts at UBS AG cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $10.00 to $7.00 in a research note to investors on Friday. They now have a “sell” rating on the stock. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. J.C. Penney Co. currently has an average rating of “Hold” and an average target price of $14.05.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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