Piper Jaffray Companies Trims J.C. Penney Company, Inc. Holding Company (JCP) Target Price to $5.00

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) had its price objective trimmed by Piper Jaffray Companies from $7.00 to $5.00 in a report released on Monday, May 22nd. The brokerage currently has a neutral rating on the department store operator’s stock.

Several other equities research analysts have also recently commented on JCP. Zacks Investment Research cut J.C. Penney Company, Inc. Holding Company from a hold rating to a sell rating in a research note on Thursday, February 2nd. Vetr lowered J.C. Penney Company, Inc. Holding Company from a strong-buy rating to a buy rating and set a $7.76 price target on the stock. in a report on Wednesday, February 8th. Susquehanna Bancshares Inc initiated coverage on J.C. Penney Company, Inc. Holding Company in a report on Friday, February 10th. They issued a positive rating and a $8.50 price target on the stock. Morgan Stanley upgraded J.C. Penney Company, Inc. Holding Company from an underweight rating to an equal weight rating and set a $7.00 price target on the stock in a report on Monday, February 13th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated an outperform rating and issued a $11.00 price target on shares of J.C. Penney Company, Inc. Holding Company in a report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $7.10.

J.C. Penney Company, Inc. Holding Company (NYSE JCP) traded up 3.72% during midday trading on Monday, reaching $5.02. 16,580,279 shares of the company traded hands. The company has a 50-day moving average price of $4.93 and a 200-day moving average price of $6.52. J.C. Penney Company, Inc. Holding Company has a 12-month low of $4.17 and a 12-month high of $11.30. The company’s market cap is $1.56 billion.

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) last released its earnings results on Friday, May 12th. The department store operator reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.27. J.C. Penney Company, Inc. Holding Company had a positive return on equity of 11.44% and a negative net margin of 0.89%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the firm posted ($0.22) earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, analysts predict that J.C. Penney Company, Inc. Holding Company will post $0.47 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of J.C. Penney Company, Inc. Holding Company by 11,522.1% in the first quarter. BlackRock Inc. now owns 24,704,238 shares of the department store operator’s stock valued at $152,179,000 after buying an additional 24,491,676 shares during the period. Appaloosa LP purchased a new stake in shares of J.C. Penney Company, Inc. Holding Company during the fourth quarter valued at about $42,214,000. Teachers Advisors LLC raised its stake in shares of J.C. Penney Company, Inc. Holding Company by 45.7% in the first quarter. Teachers Advisors LLC now owns 14,525,136 shares of the department store operator’s stock valued at $89,475,000 after buying an additional 4,557,694 shares during the period. UBS Oconnor LLC raised its stake in shares of J.C. Penney Company, Inc. Holding Company by 279.7% in the first quarter. UBS Oconnor LLC now owns 3,363,611 shares of the department store operator’s stock valued at $20,720,000 after buying an additional 2,477,711 shares during the period. Finally, Hodges Capital Management Inc. raised its stake in shares of J.C. Penney Company, Inc. Holding Company by 33.1% in the first quarter. Hodges Capital Management Inc. now owns 8,414,420 shares of the department store operator’s stock valued at $51,833,000 after buying an additional 2,094,485 shares during the period. 78.50% of the stock is owned by hedge funds and other institutional investors.

About J.C. Penney Company, Inc. Holding Company

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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