J.C. Penney Company Upgraded by Craig Hallum to Hold (JCP)
J.C. Penney Company (NYSE:JCP) was upgraded by equities researchers at Craig Hallum from a “sell” rating to a “hold” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
A number of other firms have also 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 Nomura set a $8.00 price target on shares of J.C. Penney Company in a research note on Friday, May 16th. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of J.C. Penney Company in a research note on Friday, May 16th. They now have a $4.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.89.
J.C. Penney Company (NYSE:JCP) opened at 9.37 on Monday. J.C. Penney Company has a one year low of $4.90 and a one year high of $14.65. The stock has a 50-day moving average of $8.95 and a 200-day moving average of $8.17. The company’s market cap is $2.856 billion.
J.C. Penney Company (NYSE:JCP) last announced its earnings results on Thursday, May 15th. The company reported ($1.15) EPS for the quarter, beating the Thomson Reuters 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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