J C Penney (NYSE:JCP) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a report issued on Thursday, Marketbeat Ratings reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a research report on Tuesday, May 22nd. Piper Jaffray Companies set a $3.00 price target on shares of J C Penney and gave the company a “hold” rating in a research report on Tuesday, May 22nd. Morgan Stanley set a $3.00 price target on shares of J C Penney and gave the company a “hold” rating in a research report on Monday, May 21st. Telsey Advisory Group reduced their price target on shares of J C Penney from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Friday, May 18th. Finally, B. Riley reduced their price target on shares of J C Penney to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 18th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.21.

JCP opened at $1.79 on Thursday. The company has a current ratio of 1.73, a quick ratio of 0.21 and a debt-to-equity ratio of 3.31. The stock has a market cap of $760.58 million, a price-to-earnings ratio of 8.14 and a beta of 0.87. J C Penney has a 52-week low of $1.60 and a 52-week high of $4.75.

J C Penney (NYSE:JCP) last posted its earnings results on Thursday, August 16th. The department store operator reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.32). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. J C Penney had a negative net margin of 0.11% and a negative return on equity of 1.62%. J C Penney’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. analysts expect that J C Penney will post 0.03 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in JCP. Guggenheim Capital LLC increased its holdings in J C Penney by 103.5% in the 4th quarter. Guggenheim Capital LLC now owns 551,329 shares of the department store operator’s stock worth $1,742,000 after acquiring an additional 280,399 shares in the last quarter. Two Sigma Advisers LP increased its holdings in J C Penney by 45.2% in the 4th quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock worth $219,000 after acquiring an additional 21,600 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in J C Penney in the 4th quarter worth approximately $272,000. MetLife Investment Advisors LLC purchased a new stake in J C Penney in the 4th quarter worth approximately $352,000. Finally, Rhumbline Advisers increased its holdings in J C Penney by 2.4% in the 1st quarter. Rhumbline Advisers now owns 759,853 shares of the department store operator’s stock worth $2,295,000 after acquiring an additional 17,872 shares in the last quarter. 74.33% of the stock is owned by institutional investors.

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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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Analyst Recommendations for J C Penney (NYSE:JCP)

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