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J.C. Penney Company (NYSE:JCP) was downgraded by Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $5.00 target price on the stock, down from their previous target price of $6.00. Wells Fargo & Co.’s price target suggests a potential downside of 46.58% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on JCP. Analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Company in a research note on Monday. They now have a $10.00 price target on the stock. Separately, analysts at Nomura set a $8.00 price target on shares of J.C. Penney Company in a research note on Friday. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of J.C. Penney Company in a research note on Friday. They now have a $4.00 price target on the stock. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.39.

J.C. Penney Company (NYSE:JCP) traded down 3.02% during mid-day trading on Tuesday, hitting $9.077. 17,182,230 shares of the company’s stock traded hands. J.C. Penney Company has a 52 week low of $4.90 and a 52 week high of $19.63. The stock has a 50-day moving average of $8.49 and a 200-day moving average of $8.. The company’s market cap is $2.767 billion.

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 $-2.93 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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