J C Penney (NYSE:JCP) has been assigned a $4.00 price target by Piper Jaffray Companies in a research note issued on Wednesday, January 10th. The firm currently has a “hold” rating on the department store operator’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 1.78% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Atlantic Securities downgraded shares of J C Penney from an “overweight” rating to a “neutral” rating in a research report on Friday, October 27th. Robert W. Baird set a $3.00 price objective on shares of J C Penney and gave the company a “hold” rating in a report on Sunday, October 29th. Jefferies Group set a $3.00 price objective on shares of J C Penney and gave the company a “hold” rating in a report on Friday, October 27th. Susquehanna Bancshares cut shares of J C Penney from a “positive” rating to a “neutral” rating and set a $3.00 price target for the company. in a research note on Tuesday, October 31st. Finally, B. Riley set a $4.00 price target on shares of J C Penney and gave the company a “hold” rating in a research note on Friday, January 5th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a strong buy rating to the company’s stock. J C Penney has an average rating of “Hold” and an average price target of $4.78.
Shares of J C Penney (NYSE JCP) opened at $3.93 on Wednesday. J C Penney has a 1-year low of $2.35 and a 1-year high of $7.42. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95. The firm has a market cap of $1,212.01, a price-to-earnings ratio of -6.78, a PEG ratio of 2.53 and a beta of 0.58.
J C Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, beating the 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 had a negative net margin of 1.43% and a positive return on equity of 7.60%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) earnings per share. analysts predict that J C Penney will post 0.1 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Syntal Capital Partners LLC purchased a new stake in J C Penney during the fourth quarter worth about $126,000. Schwab Charles Investment Management Inc. raised its position in J C Penney by 15.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,047,334 shares of the department store operator’s stock worth $12,790,000 after acquiring an additional 540,236 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in J C Penney during the third quarter worth about $644,000. California Public Employees Retirement System raised its position in J C Penney by 24.7% during the third quarter. California Public Employees Retirement System now owns 1,544,500 shares of the department store operator’s stock worth $5,885,000 after acquiring an additional 306,267 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in J C Penney by 802.7% during the third quarter. Pinebridge Investments L.P. now owns 368,458 shares of the department store operator’s stock worth $1,404,000 after acquiring an additional 327,641 shares during the last quarter. 72.73% of the stock is currently owned by hedge funds and other institutional investors.
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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