J.C. Penney Company, Inc. Holding Company (NYSE:JCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $6.00 price objective on the department store operator’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.29% from the stock’s current price.

According to Zacks, “J. C. Penney shares, which have underperformed the industry in the past six months, recently took a sharp U turn after the company informed that the sales performance has improved in the second quarter of fiscal 2017. Moreover, the company whose top line has missed the estimate in the trailing five quarters announced that it expects to post substantial improvement in sales in the second quarter in comparison with the first quarter. Further, in an effort to lure more customers and ramp up sales, management has introduced new loyalty program. These along with remodeling, renovation and refurbishment of stores with special attention on enhancing the reach of national and especially private-label brands looks promising. J. C. Penney is also gradually increasing the count of Sephora stores. However, the impact of challenging retail landscape, high debt level, stiff competition from online retailers, and waning store traffic concerns linger.”

JCP has been the subject of a number of other research reports. BidaskClub raised J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Telsey Advisory Group boosted their price target on J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. BMO Capital Markets set a $6.00 target price on J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research note on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $7.00 target price on shares of J.C. Penney Company, Inc. Holding in a research note on Thursday, April 6th. Finally, Deutsche Bank AG downgraded J.C. Penney Company, Inc. Holding from a “buy” rating to a “hold” rating and lowered their target price for the stock from $9.00 to $5.50 in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. J.C. Penney Company, Inc. Holding has a consensus rating of “Hold” and a consensus target price of $6.43.

Shares of J.C. Penney Company, Inc. Holding (JCP) traded up 0.18% during midday trading on Friday, reaching $5.44. 12,742,209 shares of the company’s stock were exchanged. The stock’s market cap is $1.69 billion. J.C. Penney Company, Inc. Holding has a 12 month low of $4.17 and a 12 month high of $11.30. The company’s 50 day moving average is $4.88 and its 200-day moving average is $5.62.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last posted its quarterly earnings results on Friday, May 12th. The department store operator reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.27. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.78 billion. J.C. Penney Company, Inc. Holding had a positive return on equity of 11.44% and a negative net margin of 0.89%. J.C. Penney Company, Inc. Holding’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Equities analysts forecast that J.C. Penney Company, Inc. Holding will post $0.49 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in JCP. Horrell Capital Management Inc. boosted its stake in J.C. Penney Company, Inc. Holding by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,360 shares of the department store operator’s stock valued at $169,000 after buying an additional 100 shares during the period. World Asset Management Inc boosted its stake in J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. World Asset Management Inc now owns 23,122 shares of the department store operator’s stock valued at $142,000 after buying an additional 153 shares during the period. Capstone Asset Management Co. boosted its stake in J.C. Penney Company, Inc. Holding by 0.9% in the first quarter. Capstone Asset Management Co. now owns 35,644 shares of the department store operator’s stock valued at $220,000 after buying an additional 320 shares during the period. Blair William & Co. IL boosted its stake in J.C. Penney Company, Inc. Holding by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock valued at $156,000 after buying an additional 1,000 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 140,009 shares of the department store operator’s stock valued at $862,000 after buying an additional 1,007 shares during the period. Institutional investors own 77.37% of the company’s stock.

J.C. Penney Company, Inc. Holding Company Profile

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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