J.C. Penney Company, Inc. Holding Company (NYSE:JCP) PT Set at $3.00 by Piper Jaffray Companies

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) received a $3.00 target price from investment analysts at Piper Jaffray Companies in a research note issued to investors on Friday, October 27th. The brokerage currently has a “hold” rating on the department store operator’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 5.36% from the company’s previous close.

JCP has been the topic of several other research reports. Cowen and Company set a $6.00 target price on shares of J.C. Penney Company, Inc. Holding and gave the company a “hold” rating in a research report on Friday, August 11th. B. Riley reissued a “buy” rating and issued a $4.30 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Wednesday, August 16th. Citigroup Inc. raised their price target on shares of J.C. Penney Company, Inc. Holding from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of J.C. Penney Company, Inc. Holding from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, BidaskClub raised shares of J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.06.

Shares of J.C. Penney Company, Inc. Holding (NYSE JCP) traded up $0.42 during trading on Friday, hitting $3.17. 54,355,398 shares of the company traded hands, compared to its average volume of 20,020,596. The company has a current ratio of 1.45, a quick ratio of 0.24 and a debt-to-equity ratio of 3.51. J.C. Penney Company, Inc. Holding has a 12-month low of $2.35 and a 12-month high of $10.74. The stock has a market capitalization of $985.05, a PE ratio of 11.32 and a beta of 0.53.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last released its quarterly earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.10. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. analysts predict that J.C. Penney Company, Inc. Holding will post 0.06 earnings per share for the current fiscal year.

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In other news, Director Javier G. Teruel purchased 135,135 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $3.64 per share, with a total value of $491,891.40. Following the purchase, the director now directly owns 518,970 shares of the company’s stock, valued at $1,889,050.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Brown purchased 25,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $3.62 per share, for a total transaction of $90,500.00. Following the completion of the purchase, the director now directly owns 68,123 shares in the company, valued at $246,605.26. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 310,135 shares of company stock worth $1,111,391. 1.02% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of J.C. Penney Company, Inc. Holding by 11,522.1% during the 1st quarter. BlackRock Inc. now owns 24,704,238 shares of the department store operator’s stock worth $152,179,000 after acquiring an additional 24,491,676 shares during the period. SG Americas Securities LLC lifted its holdings in shares of J.C. Penney Company, Inc. Holding by 502.5% during the 2nd quarter. SG Americas Securities LLC now owns 2,353,748 shares of the department store operator’s stock worth $10,945,000 after acquiring an additional 1,963,079 shares during the period. Vanguard Group Inc. lifted its holdings in shares of J.C. Penney Company, Inc. Holding by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 23,858,033 shares of the department store operator’s stock worth $146,966,000 after acquiring an additional 1,270,459 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of J.C. Penney Company, Inc. Holding during the 2nd quarter worth about $5,140,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of J.C. Penney Company, Inc. Holding by 93.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock worth $7,577,000 after acquiring an additional 789,312 shares during the period. 71.99% of the stock is currently owned by institutional investors.

About J.C. Penney Company, Inc. Holding

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.

Analyst Recommendations for J.C. Penney Company, Inc. Holding (NYSE:JCP)

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