Shares of J.C. Penney Co. (NYSE:JCP) were down 4.5% on Wednesday . The stock traded as low as $9.22 and last traded at $9.22, with a volume of 8,331,217 shares changing hands. The stock had previously closed at $9.65.

Several analysts have recently weighed in on JCP shares. Morgan Stanley restated a “sell” rating on shares of J.C. Penney in a research note on Wednesday, April 13th. Northcoast Research upgraded J.C. Penney from a “neutral” rating to a “buy” rating in a research note on Monday, April 4th. Piper Jaffray Cos. restated an “overweight” rating and set a $20.00 target price on shares of J.C. Penney in a research note on Thursday, March 31st. Jefferies Group started coverage on J.C. Penney in a research note on Tuesday, May 10th. They set a “hold” rating and a $9.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on J.C. Penney from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, May 6th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. J.C. Penney currently has a consensus rating of “Hold” and a consensus price target of $10.91.

The company has a 50-day moving average price of $8.62 and a 200-day moving average price of $8.83. The stock’s market capitalization is $2.89 billion.

J.C. Penney (NYSE:JCP) last issued its quarterly earnings results on Friday, May 13th. The department store operator reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.06. The firm earned $2.81 billion during the quarter, compared to analyst estimates of $2.92 billion. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.55) EPS. On average, equities research analysts forecast that J.C. Penney Co. will post $0.02 earnings per share for the current fiscal year.

In other news, Director Ronald W. Tysoe purchased 25,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were purchased at an average price of $7.24 per share, for a total transaction of $181,000.00. Following the transaction, the director now owns 68,469 shares of the company’s stock, valued at $495,715.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Other hedge funds recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake 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 valued at $69,062,000 after buying an additional 4,985,651 shares in the last quarter. OppenheimerFunds Inc. raised its stake in 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 valued at $13,630,000 after buying an additional 766,246 shares in the last quarter. Morgan Stanley raised its stake 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 valued at $9,521,000 after buying an additional 153,250 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in 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 valued at $1,311,000 after buying an additional 67,028 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake 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 valued at $16,283,000 after buying an additional 45,690 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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