Piper Jaffray Reiterates Positive Rating for J.C. Penney Company (JCP)
J.C. Penney Company (NYSE:JCP)‘s stock had its “positive” rating restated by Piper Jaffray in a research note issued on Friday, AmericanBankingNews.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of J.C. Penney Company from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $4.00 price target on the stock, down previously from $9.00. Separately, analysts at Belus Capital upgraded shares of J.C. Penney Company from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th. They now have a $9.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. J.C. Penney Company has a consensus rating of “Hold” and a consensus price target of $9.18.
J.C. Penney Company (NYSE:JCP) opened at 8.37 on Friday. J.C. Penney Company has a 52 week low of $4.90 and a 52 week high of $19.63. The stock’s 50-day moving average is $8.45 and its 200-day moving average is $7.9. The company’s market cap is $2.550 billion. J.C. Penney Company also was the target of some unusual options trading on Wednesday. Investors bought 43,769 put options on the stock. This represents an increase of 180% compared to the average volume of 15,633 put options.
J.C. Penney Company (NYSE:JCP) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($1.15) earnings per share for the quarter, beating the analysts’ consensus estimate of ($1.25) by $0.10. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.71 billion. Analysts expect that J.C. Penney Company will post $-3.00 EPS for the current fiscal year.
J. C. Penney Company, Inc is a holding company whose principal operating subsidiary is J. C. Penney Corporation, Inc (NYSE:JCP).
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