The stock of J C Penney Company Inc (NYSE:JCP) is a huge mover today! About 8.97 million shares traded hands. J C Penney Company Inc (NYSE:JCP) has declined 5.59% since April 14, 2016 and is downtrending. It has underperformed by 10.28% the S&P500.
The move comes after 8 months positive chart setup for the $2.71 billion company. It was reported on Nov, 16 by Barchart.com. We have $14.44 PT which if reached, will make NYSE:JCP worth $1.54 billion more.
J C Penney Company Inc (NYSE:JCP) Ratings Coverage
Out of 21 analysts covering J.C. Penney Company (NYSE:JCP), 8 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 38% are positive. J.C. Penney Company has been the topic of 30 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Friday, January 29 the stock rating was upgraded by Credit Suisse to “Neutral”. The stock of J C Penney Company Inc (NYSE:JCP) earned “Sell” rating by Citigroup on Wednesday, October 7. The firm has “Buy” rating given on Monday, May 23 by Miller Tabak. The stock of J C Penney Company Inc (NYSE:JCP) has “Neutral” rating given on Tuesday, January 5 by Citigroup. The firm has “Underperform” rating by Imperial Capital given on Thursday, August 27. Deutsche Bank maintained J C Penney Company Inc (NYSE:JCP) rating on Friday, March 11. Deutsche Bank has “Buy” rating and $14 price target. On Monday, September 21 the stock rating was maintained by Credit Suisse with “Underperform”. The firm has “Outperform” rating by Robert W. Baird given on Monday, May 16. The company was maintained on Friday, May 6 by JP Morgan. The company was upgraded on Monday, September 28 by Sterne Agee CRT.
According to Zacks Investment Research, “JCPenney is one of America’s leading retailers, operating department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands.”
Insitutional Activity: The institutional sentiment increased to 1.21 in Q2 2016. Its up 0.30, from 0.91 in 2016Q1. The ratio improved, as 66 funds sold all J C Penney Company Inc shares owned while 61 reduced positions. 44 funds bought stakes while 110 increased positions. They now own 266.33 million shares or 7.88% more from 246.88 million shares in 2016Q1.
Checchi Advisers Ltd Liability Co holds 0% or 1,011 shares in its portfolio. Stifel Corporation has invested 0% of its portfolio in J C Penney Company Inc (NYSE:JCP). Jefferies Gru Ltd Liability Com has 0% invested in the company for 30,449 shares. North Star Inv Mngmt Corporation has 0% invested in the company for 50 shares. Nuveen Asset Mngmt Lc holds 196,871 shares or 0.01% of its portfolio. Davenport And Lc reported 10,700 shares or 0% of all its holdings. Old Mutual Global Investors (Uk) has 986,531 shares for 0.16% of their US portfolio. The California-based Tcw Incorporated has invested 1.06% in J C Penney Company Inc (NYSE:JCP). Hap Trading Ltd reported 77,881 shares or 0.04% of all its holdings. The Ohio-based Fifth Third Bank has invested 0% in J C Penney Company Inc (NYSE:JCP). Bnp Paribas Arbitrage last reported 0.01% of its portfolio in the stock. Moreover, Jane Street Gp Llc has 0% invested in J C Penney Company Inc (NYSE:JCP) for 56,961 shares. Mercer Advisers last reported 300 shares in the company. Wellington Group Limited Liability Partnership holds 42,919 shares or 0% of its portfolio. Veritable Ltd Partnership accumulated 0.01% or 22,345 shares.
More notable recent J C Penney Company Inc (NYSE:JCP) news were published by: Fool.com which released: “JC Penney Company, Inc. Earnings: Sales Growth Stalls Again” on November 11, 2016, also Investorplace.com with their article: “J C Penney Company Inc (JCP) Earnings Will Surprise You” published on November 10, 2016, Reuters.com published: “BRIEF-JC Penney Company Inc reports Q3 adj shr loss of 21 cents” on November 11, 2016. More interesting news about J C Penney Company Inc (NYSE:JCP) were released by: Seekingalpha.com and their article: “J.C. Penney: Positive Outlook Remains Despite Challenging Quarter” published on November 15, 2016 as well as Schaeffersresearch.com‘s news article titled: “Earnings Preview: Michael Kors Holdings Ltd (KORS) and J C Penney Company Inc …” with publication date: November 10, 2016.
JCP Company Profile
J. C. Penney Company, Inc. (JCPenney), incorporated on January 22, 2002, 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 clients through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices. The Company’s department stores and Website serves the same type of customers, its Website offers virtually the same mix of merchandise as its in store assortment along with other extended categories that are not offered in store, and its department stores accept returns from sales made in stores and through its Website. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Firm sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings.
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