J.C. Penney Co. Price Target Lowered to $10.00 at Barclays Capital (JCP)
Investment analysts at Barclays Capital decreased their price objective on shares of J.C. Penney Co. (NYSE:JCP) from $20.00 to $10.00 in a note issued to investors on Tuesday, Stock Ratings Network reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s target price would suggest a potential upside of 13.57% from the company’s current price.
A number of other analysts have also recently weighed in on JCP. Analysts at Imperial Capital reiterated an “underperform” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Tuesday. They now have a $5.00 price target on the stock, down previously from $8.00. Separately, analysts at Argus downgraded shares of J.C. Penney Co. (NYSE:JCP) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at Oppenheimer cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $15.00 to $9.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.41.
J.C. Penney Co. (NYSE:JCP) traded down 0.17% during mid-day trading on Tuesday, hitting $8.7899. 24,433,924 shares of the company’s stock traded hands. J.C. Penney Co. has a 52 week low of $8.59 and a 52 week high of $27.00. The stock has a 50-day moving average of $12.92 and a 200-day moving average of $15.54. The company’s market cap is $1.939 billion. J.C. Penney Co. also was the recipient of unusually large options trading activity on Monday. Investors bought 102,653 put options on the company. This represents an increase of 107% compared to the typical volume of 49,684 put options.
J.C. Penney Co. (NYSE:JCP) last announced its earnings results on Tuesday, August 20th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts expect that J.C. Penney Co. will post $-6.23 EPS for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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