Shares of J.C. Penney Co. (NYSE:JCP) were up 2.3% during trading on Thursday . The stock traded as high as $9.22 and last traded at $9.07, with a volume of 10,385,508 shares traded. The stock had previously closed at $8.87.

Several analysts have recently commented on JCP shares. Sterne Agee CRT reaffirmed a “buy” rating on shares of J.C. Penney in a research report on Monday, May 16th. B. Riley reaffirmed a “buy” rating and set a $16.50 price objective on shares of J.C. Penney in a research report on Thursday, May 12th. Northcoast Research upgraded J.C. Penney from a “neutral” rating to a “buy” rating in a report on Monday, April 4th. Miller Tabak cut their target price on J.C. Penney from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 17th. Finally, Zacks Investment Research cut J.C. Penney from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. J.C. Penney presently has a consensus rating of “Hold” and an average price target of $10.91.

The firm’s market capitalization is $2.79 billion. The company has a 50-day moving average of $8.53 and a 200 day moving average of $8.76.

J.C. Penney (NYSE:JCP) last announced its quarterly earnings results on Friday, May 13th. The department store operator reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company earned ($0.55) earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that J.C. Penney Co. will post $0.02 EPS for the current fiscal year.

In other J.C. Penney news, Director Ronald W. Tysoe purchased 25,000 shares of the stock in a transaction dated Tuesday, May 17th. The shares were purchased at an average cost of $7.24 per share, with a total value of $181,000.00. Following the completion of the acquisition, the director now directly owns 68,469 shares in the company, valued at approximately $495,715.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

A number of hedge funds and institutional investors have recently bought and sold shares of JCP. Dimensional Fund Advisors LP increased its position in J.C. Penney by 92.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,369,570 shares of the department store operator’s stock worth $69,062,000 after buying an additional 4,985,651 shares in the last quarter. Hodges Capital Management Inc. increased its position in J.C. Penney by 1.9% in the fourth quarter. Hodges Capital Management Inc. now owns 2,444,890 shares of the department store operator’s stock worth $16,283,000 after buying an additional 45,690 shares in the last quarter. Royce & Associates LLC increased its position in J.C. Penney by 2.2% in the fourth quarter. Royce & Associates LLC now owns 1,474,884 shares of the department store operator’s stock worth $9,823,000 after buying an additional 32,000 shares in the last quarter. Principal Financial Group Inc. increased its position in J.C. Penney by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 973,544 shares of the department store operator’s stock worth $6,484,000 after buying an additional 36,188 shares in the last quarter. Finally, Morgan Stanley increased its position in J.C. Penney by 12.0% in the fourth quarter. Morgan Stanley now owns 1,429,584 shares of the department store operator’s stock worth $9,521,000 after buying an additional 153,250 shares in the last quarter.

J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.

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