J.C. Penney Company, Inc. Holding Company (NYSE:JCP) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of J.C. Penney Company, Inc. Holding Company (NYSE:JCP) from a buy rating to a hold rating in a report released on Monday, August 7th.

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.”

A number of other equities analysts also recently issued reports on JCP. BidaskClub upgraded 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 raised their price target on J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the stock an outperform rating in a research note on Monday, May 15th. BMO Capital Markets set a $6.00 price target 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 restated a hold rating and issued a $5.00 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG downgraded J.C. Penney Company, Inc. Holding from a buy rating to a hold rating and dropped their price target for the stock from $9.00 to $5.50 in a research note on Monday, May 15th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. J.C. Penney Company, Inc. Holding has an average rating of Hold and a consensus price target of $5.80.

Shares of J.C. Penney Company, Inc. Holding (NYSE JCP) traded up 0.56% during midday trading on Monday, reaching $3.60. The company’s stock had a trading volume of 28,086,805 shares. The stock’s market cap is $1.12 billion. J.C. Penney Company, Inc. Holding has a 52-week low of $3.45 and a 52-week high of $10.74. The stock has a 50-day moving average price of $4.82 and a 200-day moving average price of $5.44.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last issued its earnings results on Friday, August 11th. The department store operator reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.03. J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts anticipate that J.C. Penney Company, Inc. Holding will post $0.43 earnings per share for the current fiscal year.

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In other news, Chairman Marvin R. Ellison bought 100,000 shares of J.C. Penney Company, Inc. Holding stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of $3.48 per share, with a total value of $348,000.00. Following the completion of the acquisition, the chairman now owns 2,852,280 shares of the company’s stock, valued at approximately $9,925,934.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock valued at $103,000 after buying an additional 4,205 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in J.C. Penney Company, Inc. Holding by 14.5% in the first quarter. Meadow Creek Investment Management LLC now owns 17,472 shares of the department store operator’s stock valued at $108,000 after buying an additional 2,212 shares in the last quarter. Parametrica Management Ltd bought a new position in J.C. Penney Company, Inc. Holding during the first quarter valued at approximately $117,000. FNY Managed Accounts LLC bought a new position in J.C. Penney Company, Inc. Holding during the first quarter valued at approximately $117,000. Finally, Janney Montgomery Scott LLC raised its position in J.C. Penney Company, Inc. Holding by 84.4% in the first quarter. Janney Montgomery Scott LLC now owns 19,818 shares of the department store operator’s stock valued at $122,000 after buying an additional 9,068 shares in the last quarter. Institutional investors own 78.87% 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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