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J.C. Penney Company (NYSE:JCP) was downgraded by investment analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.

J.C. Penney Company (NYSE:JCP) opened at 11.20 on Thursday. 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 $9.36 and a 200-day moving average of $8.56. The company’s market cap is $3.414 billion. J.C. Penney Company also saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 82,044,739 shares, an increase of 3.4% from the July 31st total of 79,381,907 shares. Approximately 27.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 26,253,781 shares, the days-to-cover ratio is presently 3.1 days.

J.C. Penney Company (NYSE:JCP) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.56) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.94) by $0.38. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.78 billion. Analysts expect that J.C. Penney Company will post $-2.50 EPS for the current fiscal year.

JCP has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “positive” rating on shares of J.C. Penney Company in a research note on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Company in a research note on Tuesday, August 19th. They now have a $10.00 price target on the stock. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of J.C. Penney Company in a research note on Friday, August 15th. They now have a $7.00 price target on the stock. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $7.90.

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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