JC Penney Holding On To Strong Gain In Afternoon Trading

The entrance of a J.C. Penney store

(NYSE:JCP) by 0.4% during the third quarter, Holdings Channel reports. The brokerage now has a "hold" rating on the department store operator's stock.

While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%. Robert W. Baird set a $13.00 target price on J.C. Penney and gave the stock a "buy" rating in a research report on Friday, November 11th. Holding and gave the company a "market perform" rating in a research report on Saturday, August 12th. Citigroup Inc. increased their price objective on shares of J.C. Penney Company, Inc.

Ellison said on Friday that J.C. Penney will not need to liquidate inventory again in the fourth quarter. Holding in a research note on Tuesday, July 4th. Finally, Pinebridge Investments L.P. bought a new stake in J.C. Penney Company, Inc.

In terms of Buy, Sell or Hold recommendations, J.C. Penney Company Inc (NYSE:JCP) has analysts' mean recommendation of 3. J.C. Penney Company, Inc. The stock presently has an average rating of "Hold" and an average target price of $11.44. Holding will post 0.06 EPS for the current year. In the past 52 weeks the company's stock price has moved within the range of $2.35 to $10.74.

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The Relative Volume of the company is 1.3 and Average Volume (3 months) is 18.92 million. The stock has a market capitalization of $860.75, a PE ratio of 6.93 and a beta of 0.53. The department store operator reported ($0.21) EPS for the quarter, meeting the Zacks' consensus estimate of ($0.21). J.C. Penney had a negative net margin of 2.56% and a negative return on equity of 4.66%. Despite this decline, it still came in above analysts' revenue estimate of $2.74 billion for the third quarter of the year.

Wall Street analysts, on average, are forecasting the company's EPS to be -0.40, compared to -0.21 reported in the same quarter past year. Adjusted earnings were $1.53 per share. Bank of New York Mellon Corp's holdings in J.C. Penney were worth $31,781,000 at the end of the most recent reporting period. Holding (NYSE JCP) opened at $3.18 on Monday. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and global copyright legislation. "Holding Company (JCP) a $4.00 Price Target" was reported by TrueBlueTribune and is owned by of TrueBlueTribune. And after closing 138 stores, total sales fell 1.8 percent to $2.81 billion, which shows how unproductive some stores had become. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $491,891.40. Following the acquisition, the director now directly owns 518,970 shares of the company's stock, valued at approximately $1,889,050.80. The disclosure for this purchase can be found here. IBM Retirement Fund now owns 31,071 shares of the department store operator's stock valued at $276,000 after buying an additional 467 shares in the last quarter. However the six-month change in the insider ownership was recorded 5.13%, as well as three-month change in the institutional ownership was recorded -0.11%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of J.C. Penney Company, Inc. Holding by 33.6% during the 1st quarter.

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