J.C. Penney Co. (JCP) Stock Rating Upgraded by Vetr Inc.
J.C. Penney Co. (NYSE:JCP) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $10.35 target price on the department store operator’s stock. Vetr‘s price objective indicates a potential upside of 5.61% from the stock’s current price.
Several other research analysts also recently commented on JCP. B. Riley reaffirmed a “buy” rating and issued a $16.00 price target on shares of J.C. Penney in a research report on Saturday, September 3rd. Robert W. Baird raised J.C. Penney from a “neutral” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Thursday, May 26th. Cowen and Company reissued a “market perform” rating and set a $10.00 price objective on shares of J.C. Penney in a report on Monday, August 15th. Zacks Investment Research raised J.C. Penney from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 16th. Finally, Jefferies Group reissued a “hold” rating and set a $10.00 price objective on shares of J.C. Penney in a report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.52.
J.C. Penney (NYSE:JCP) opened at 9.80 on Wednesday. J.C. Penney has a one year low of $6.00 and a one year high of $11.99. The firm’s market capitalization is $3.02 billion. The stock’s 50 day moving average price is $9.87 and its 200-day moving average price is $9.41.
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J.C. Penney (NYSE:JCP) last issued its quarterly earnings results on Friday, August 12th. The department store operator reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.10. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.93 billion. J.C. Penney had a negative return on equity of 10.18% and a negative net margin of 3.11%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) EPS. On average, equities research analysts anticipate that J.C. Penney will post $0.16 earnings per share for the current fiscal year.
In other J.C. Penney news, Chairman Marvin R. Ellison purchased 50,000 shares of the stock in a transaction on Thursday, August 25th. The stock was bought at an average cost of $9.92 per share, for a total transaction of $496,000.00. Following the completion of the acquisition, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at $25,368,584.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in JCP. Northwestern Mutual Investment Management Company LLC increased its stake in shares of J.C. Penney by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 53,077 shares of the department store operator’s stock valued at $471,000 after buying an additional 266 shares during the period. Calvert Investment Management Inc. increased its stake in shares of J.C. Penney by 1.9% in the second quarter. Calvert Investment Management Inc. now owns 17,587 shares of the department store operator’s stock valued at $156,000 after buying an additional 324 shares during the period. US Bancorp DE increased its stake in shares of J.C. Penney by 0.6% in the second quarter. US Bancorp DE now owns 63,670 shares of the department store operator’s stock valued at $565,000 after buying an additional 407 shares during the period. IBM Retirement Fund increased its stake in shares of J.C. Penney by 1.5% in the second quarter. IBM Retirement Fund now owns 31,071 shares of the department store operator’s stock valued at $276,000 after buying an additional 467 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of J.C. Penney by 2.8% in the first quarter. IFP Advisors Inc now owns 18,093 shares of the department store operator’s stock valued at $200,000 after buying an additional 496 shares during the period. Institutional investors own 88.62% of the company’s stock.
J.C. Penney Company Profile
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.
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