J.C. Penney Co. (NYSE:JCP) shares rose 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. The stock had previously closed at $8.87.

JCP has been the subject of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $15.00 price objective on shares of J.C. Penney in a research report on Tuesday, May 17th. Zacks Investment Research lowered J.C. Penney from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Miller Tabak lowered their price objective on J.C. Penney from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Citigroup Inc. lowered their price objective on J.C. Penney from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, May 16th. Finally, Sterne Agee CRT reiterated a “buy” rating on shares of J.C. Penney in a research report on Monday, May 16th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. J.C. Penney currently has a consensus rating of “Hold” and an average target price of $10.91.

The stock has a 50-day moving average price of $8.56 and a 200 day moving average price of $8.77. The stock’s market capitalization is $2.81 billion.

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

In related news, Director Ronald W. Tysoe bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were bought at an average cost of $7.24 per share, with a total value of $181,000.00. Following the acquisition, the director now owns 68,469 shares in the company, valued at $495,715.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Several hedge funds and institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of 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 during the last quarter. OppenheimerFunds Inc. increased its position in shares of J.C. Penney by 59.9% in the fourth quarter. OppenheimerFunds Inc. now owns 2,046,502 shares of the department store operator’s stock worth $13,630,000 after buying an additional 766,246 shares during the last quarter. Morgan Stanley increased its position in shares of 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 during the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of J.C. Penney by 51.6% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 196,974 shares of the department store operator’s stock worth $1,311,000 after buying an additional 67,028 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of 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 during 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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