J.C. Penney Co. (NYSE:JCP)’s share price was down 2.8% on Tuesday . The stock traded as low as $9.81 and last traded at $9.81, with a volume of 5,472,557 shares trading hands. The stock had previously closed at $10.09.

Several equities analysts have weighed in on JCP shares. Jefferies Group restated a “hold” rating and set a $10.00 target price on shares of J.C. Penney in a report on Thursday, August 18th. Vetr lowered J.C. Penney from a “buy” rating to a “hold” rating and set a $10.02 target price on the stock. in a report on Monday, August 15th. Miller Tabak cut their target price on J.C. Penney from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. B. Riley restated a “buy” rating and set a $16.00 target price on shares of J.C. Penney in a report on Saturday, August 20th. Finally, Cowen and Company restated a “market perform” rating and set a $10.00 target price on shares of J.C. Penney in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.52.

The company’s market cap is $3.02 billion. The firm’s 50 day moving average price is $9.86 and its 200-day moving average price is $9.42.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/j-c-penney-co-jcp-stock-price-down-2-8.html

J.C. Penney (NYSE:JCP) last posted its quarterly earnings data on Friday, August 12th. The department store operator reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.10. J.C. Penney had a negative net margin of 3.11% and a negative return on equity of 10.18%. The company earned $2.92 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the business posted ($0.41) EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that J.C. Penney Co. will post $0.16 EPS for the current fiscal year.

In other news, Chairman Marvin R. Ellison bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average cost of $9.92 per share, for a total transaction of $496,000.00. Following the purchase, the chairman now owns 2,557,317 shares of the company’s stock, valued at approximately $25,368,584.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Parametrica Management Ltd purchased a new stake in shares of J.C. Penney during the second quarter valued at about $102,000. Invictus RG purchased a new stake in shares of J.C. Penney during the first quarter valued at about $103,000. Advisors Asset Management Inc. increased its stake in shares of J.C. Penney by 40.8% in the second quarter. Advisors Asset Management Inc. now owns 11,546 shares of the department store operator’s stock valued at $103,000 after buying an additional 3,346 shares during the period. Private Advisor Group LLC purchased a new stake in shares of J.C. Penney during the second quarter valued at about $115,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of J.C. Penney during the second quarter valued at about $138,000. Institutional investors and hedge funds own 88.62% of the company’s stock.

About J.C. Penney

J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.

5 Day Chart for NYSE:JCP

Receive News & Ratings for J.C. Penney Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J.C. Penney Co. and related companies with MarketBeat.com's FREE daily email newsletter.