J C Penney (NYSE:JCP) has been assigned a $1.00 price objective by stock analysts at B. Riley in a research report issued on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the department store operator’s stock. B. Riley’s target price would suggest a potential downside of 12.28% from the stock’s previous close.
Separately, Zacks Investment Research upgraded J C Penney from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $2.58.
JCP traded down $0.05 on Friday, hitting $1.14. 11,141,600 shares of the company traded hands, compared to its average volume of 9,111,367. The company has a quick ratio of 0.27, a current ratio of 1.52 and a debt-to-equity ratio of 3.35. The company has a market cap of $376.48 million, a PE ratio of -1.21 and a beta of 1.05. J C Penney has a 12-month low of $0.92 and a 12-month high of $3.16.
J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.79 billion. J C Penney had a negative return on equity of 24.80% and a negative net margin of 2.12%. During the same period in the prior year, the business earned $0.57 EPS. As a group, sell-side analysts expect that J C Penney will post -0.76 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Actinver Wealth Management Inc. acquired a new position in J C Penney during the 4th quarter worth approximately $48,000. Marshall Wace North America L.P. acquired a new position in J C Penney during the 1st quarter worth approximately $41,000. Regentatlantic Capital LLC acquired a new position in J C Penney during the 1st quarter worth approximately $41,000. D. E. Shaw & Co. Inc. increased its position in J C Penney by 245.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock worth $30,000 after purchasing an additional 49,187 shares during the period. Finally, Magnus Financial Group LLC acquired a new stake in shares of J C Penney in the 1st quarter worth approximately $53,000. Institutional investors own 73.25% of the company’s stock.
About J C Penney
J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.
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