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.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of J.C. Penney from a hold rating to a buy rating and set a $6.00 price objective for the company in a research report on Friday, August 4th. Northcoast Research reaffirmed a buy rating and set a $9.00 price objective on shares of J.C. Penney in a research report on Monday, August 14th. B. Riley reaffirmed a buy rating and set a $4.30 price objective on shares of J.C. Penney in a research report on Wednesday, August 16th. Deutsche Bank reaffirmed a hold rating and set a $5.00 price objective (down from $6.50) on shares of J.C. Penney in a research report on Monday, August 14th. Finally, Jefferies Group reissued a hold rating and issued a $5.00 price target on shares of J.C. Penney in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $5.03.

J.C. Penney (NYSE JCP) traded up $0.05 during trading on Thursday, hitting $3.36. 21,837,381 shares of the stock traded hands, compared to its average volume of 19,111,375. The stock has a market cap of $1,050.00, a PE ratio of 12.50, a P/E/G ratio of 2.88 and a beta of 0.53. J.C. Penney has a 1-year low of $2.35 and a 1-year high of $10.74. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of JCP. Oregon Public Employees Retirement Fund increased its stake in J.C. Penney by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 109,180 shares of the department store operator’s stock valued at $508,000 after purchasing an additional 1,800 shares during the period. Aperio Group LLC increased its stake in J.C. Penney by 125.5% in the second quarter. Aperio Group LLC now owns 95,190 shares of the department store operator’s stock valued at $443,000 after purchasing an additional 52,978 shares during the period. US Bancorp DE increased its stake in J.C. Penney by 1.7% in the second quarter. US Bancorp DE now owns 63,629 shares of the department store operator’s stock valued at $296,000 after purchasing an additional 1,054 shares during the period. Arizona State Retirement System increased its stake in J.C. Penney by 26.1% in the second quarter. Arizona State Retirement System now owns 161,600 shares of the department store operator’s stock valued at $751,000 after purchasing an additional 33,400 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in J.C. Penney by 28.6% in the second quarter. Wedge Capital Management L L P NC now owns 108,247 shares of the department store operator’s stock valued at $503,000 after purchasing an additional 24,099 shares during the period. Institutional investors own 73.09% of the company’s stock.

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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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