Argus downgraded shares of J C Penney (NYSE:JCP) from a hold rating to a sell rating in a research report report published on Friday, Marketbeat.com reports.

Several other research analysts have also commented on JCP. Zacks Investment Research raised shares of J C Penney from a sell rating to a hold rating in a research note on Friday, August 3rd. JPMorgan Chase & Co. lowered shares of J C Penney from a neutral rating to an underweight rating and set a $10.00 price objective for the company. in a research note on Thursday, August 16th. Bank of America lowered shares of J C Penney from a buy rating to an underperform rating in a research note on Thursday, August 16th. Credit Suisse Group lowered their price objective on shares of J C Penney from $2.00 to $1.00 and set an underperform rating for the company in a research note on Thursday, August 16th. Finally, Telsey Advisory Group lowered their price objective on shares of J C Penney from $3.00 to $2.00 and set a market perform rating for the company in a research note on Friday, August 17th. Six investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $3.02.

NYSE JCP opened at $1.29 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. J C Penney has a one year low of $1.04 and a one year high of $4.75. The company has a market capitalization of $405.43 million, a PE ratio of 5.86 and a beta of 0.97.

J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, November 15th. The department store operator reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.05. J C Penney had a negative net margin of 0.62% and a negative return on equity of 13.97%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm posted ($0.33) earnings per share. Equities research analysts anticipate that J C Penney will post -0.92 earnings per share for the current year.

A number of large investors have recently modified their holdings of JCP. BNP Paribas Arbitrage SA raised its holdings in J C Penney by 51.9% in the second quarter. BNP Paribas Arbitrage SA now owns 1,157,675 shares of the department store operator’s stock valued at $2,709,000 after acquiring an additional 395,452 shares in the last quarter. Newport Trust Co raised its holdings in J C Penney by 3.3% in the second quarter. Newport Trust Co now owns 13,809,203 shares of the department store operator’s stock valued at $32,314,000 after acquiring an additional 441,186 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in J C Penney in the second quarter valued at approximately $160,000. Eqis Capital Management Inc. acquired a new stake in J C Penney in the second quarter valued at approximately $135,000. Finally, Dupont Capital Management Corp raised its holdings in J C Penney by 36.1% in the second quarter. Dupont Capital Management Corp now owns 103,600 shares of the department store operator’s stock valued at $242,000 after acquiring an additional 27,500 shares in the last quarter. 66.99% of the stock is currently owned by hedge funds and other institutional investors.

J C Penney Company Profile

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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Analyst Recommendations for J C Penney (NYSE:JCP)

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