Cowen Analysts Give J.C. Penney (JCP) a $4.00 Price Target

Cowen set a $4.00 price objective on J.C. Penney (NYSE:JCP) in a research note published on Thursday morning. The brokerage currently has a hold rating on the department store operator’s stock.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut J.C. Penney from a hold rating to a sell rating in a report on Wednesday, October 11th. Citigroup boosted their price objective on J.C. Penney from $3.00 to $4.00 and gave the company a neutral rating in a report on Friday, October 27th. B. Riley restated a hold rating and set a $3.50 price objective on shares of J.C. Penney in a report on Monday, November 13th. UBS cut J.C. Penney from a positive rating to a neutral rating in a report on Monday, October 30th. Finally, Jefferies Group restated a hold rating and set a $4.00 price objective on shares of J.C. Penney in a report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $4.64.

J.C. Penney (NYSE:JCP) opened at $3.36 on Thursday. The company has a market capitalization of $1,046.88, a P/E ratio of 12.00, a PEG ratio of 2.76 and a beta of 0.57. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95. J.C. Penney has a 1-year low of $2.35 and a 1-year high of $10.74.

J.C. Penney (NYSE:JCP) last announced its earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.10. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. J.C. Penney had a positive return on equity of 7.60% and a negative net margin of 1.43%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. research analysts forecast that J.C. Penney will post 0.08 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in J.C. Penney by 3.1% during the 2nd quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock valued at $156,000 after buying an additional 1,000 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in J.C. Penney during the 2nd quarter valued at about $190,000. Quinn Opportunity Partners LLC increased its position in J.C. Penney by 13.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after buying an additional 5,000 shares in the last quarter. US Bancorp DE increased its position in J.C. Penney by 1.7% during the 2nd quarter. US Bancorp DE now owns 63,629 shares of the department store operator’s stock valued at $296,000 after buying an additional 1,054 shares in the last quarter. Finally, Dupont Capital Management Corp grew its stake in J.C. Penney by 67.4% during the 2nd quarter. Dupont Capital Management Corp now owns 63,600 shares of the department store operator’s stock valued at $296,000 after purchasing an additional 25,600 shares during the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for J.C. Penney (NYSE:JCP)

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