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Shares of J.C. Penney Company (NYSE:JCP) saw a significant increase in short interest in the month of May. As of May 30th, there was short interest totalling 80,823,588 shares, an increase of 2.5% from the May 15th total of 78,856,913 shares, American Banking reports. Based on an average trading volume of 26,981,661 shares, the days-to-cover ratio is presently 3.0 days. Approximately 26.8% of the company’s stock are sold short.

A number of research firms have recently commented on JCP. Analysts at Wells Fargo & Co. downgraded shares of J.C. Penney Company from a “market perform” rating to an “underperform” rating in a research note on Tuesday, May 20th. They now have a $5.00 price target on the stock, down previously from $6.00. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Company in a research note on Monday, May 19th. They now have a $10.00 price target on the stock. Finally, analysts at Nomura set a $8.00 price target on shares of J.C. Penney Company in a research note on Friday, May 16th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $9.15.

J.C. Penney Company (NYSE:JCP) opened at 9.00 on Monday. J.C. Penney Company has a 52-week low of $4.90 and a 52-week high of $17.80. The stock’s 50-day moving average is $8.78 and its 200-day moving average is $8.00. The company’s market cap is $2.743 billion.

J.C. Penney Company (NYSE:JCP) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that J.C. Penney Company will post $-2.79 earnings per share 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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