Equities researchers at Credit Suisse Group began coverage on shares of J C Penney (NYSE:JCP) in a report released on Monday, The Fly reports. The firm set an “underperform” rating on the department store operator’s stock.
Several other research firms have also recently weighed in on JCP. Zacks Investment Research upgraded shares of J C Penney from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Cowen set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Thursday, November 30th. B. Riley set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Monday, March 5th. Guggenheim restated a “hold” rating on shares of J C Penney in a report on Friday, March 2nd. Finally, Piper Jaffray Companies set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Wednesday, January 10th. Four analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.47.
J C Penney (NYSE:JCP) traded down $0.02 during trading on Monday, hitting $3.25. 10,572,450 shares of the stock traded hands, compared to its average volume of 18,387,945. The firm has a market capitalization of $993.91, a PE ratio of -5.24, a PEG ratio of 1.25 and a beta of 0.50. J C Penney has a 12 month low of $2.35 and a 12 month high of $6.39. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.46 and a quick ratio of 0.28.
A number of hedge funds have recently made changes to their positions in JCP. Syntal Capital Partners LLC acquired a new stake in J C Penney in the fourth quarter valued at $126,000. Two Sigma Advisers LP lifted its stake in J C Penney by 45.2% in the fourth quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock valued at $219,000 after acquiring an additional 21,600 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in J C Penney in the fourth quarter valued at $272,000. Nokomis Capital L.L.C. acquired a new stake in J C Penney in the fourth quarter valued at $284,000. Finally, Teacher Retirement System of Texas lifted its stake in J C Penney by 313.7% in the fourth quarter. Teacher Retirement System of Texas now owns 106,538 shares of the department store operator’s stock valued at $337,000 after acquiring an additional 80,788 shares during the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.
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About J C Penney
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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