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11 November 2017, 12:58 | Kenneth Drake
The entrance of a J.C. Penney store
Holding (NYSE:JCP) last posted its earnings results on Thursday, November 9th.
JCP has been the topic of a number of other research reports. Wall Street experts also assign a $3.72 price target on J. C. Penney Company, Inc., pointing towards a 48.21% rally from current levels.
Since the start of the New Year, J. C. Penney Company, Inc.
ILLEGAL ACTIVITY NOTICE: "J.C. Penney Company, Inc". Holding from a buy rating to a hold rating in a report on Saturday, August 12th. Analysts reported that the Price Target for J. C. Penney Company, Inc. might touch $5 high while the Average Price Target and Low price Target is $3.34 and $1.5 respectively. The stock's average target of $9.75 is 272.14% above today's ($2.62) share price.
J.C. Penney Company, Inc. (NYSE:JCP) advice adding it to buy candidate list. The relative volume (ratio between current volume and 3-month average) is presently sitting at 1.00. The company has managed to keep price to sales ratio of 0.06 against an industry average of 4.80. SG Americas Securities LLC now owns 2,353,748 shares of the department store operator's stock valued at $10,945,000 after purchasing an additional 1,963,079 shares during the last quarter. Total debt to equity ratio of the company for most recent quarter is 0.00 whereas long term debt to equity ratio for most recent quarter is 0.00.
J.C. Penney Co. reported a loss of $128 million, or 41 cents, for the quarter. The Return on Equity (ROE) value stands at -9.6%.
Penney's total net sales fell 1.8 % to $2.81 billion in the quarter, ended October 28, better than analysts' estimates of $2.77 billion. It also posted a smaller-than-expected loss for the third quarter, all news that sent its shares soaring.
The company also slashed its full-year sales and profit expectations in October, saying it sold stagnant apparel inventory at heavy discounts amid an overhaul of its women's section. They expect $-0.18 EPS, up 14.29% or $0.03 from last year's $-0.21 per share.
TRADEMARK VIOLATION WARNING: This report was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of USA and worldwide copyright and trademark legislation. The correct version of this piece can be accessed at https://www.truebluetribune.com/2017/11/10/northcoast-research-downgrades-j-c-penney-company-inc-holding-company-jcp-to-neutral.html. 8,186,387 shares of the stock traded hands. At the close of regular trading, its last week's stock price volatility was 17.79% which for the month reaches 36.3%. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The stock was bought at an average cost of $3.62 per share, with a total value of $90,500.00. Clearly, investors are no longer confident in the company's trajectory and don't trust management. The disclosure for this purchase can be found here. For the quarter, shares are performing at -30.03%. First Dallas Securities Inc. owns 478,750 shares or 1.63% of their United States portfolio. Hedge funds and other institutional investors own 71.99% of the company's stock. If J.C. Penney can deliver another quarter of comp sales growth while stabilizing gross margin, investors might finally gain confidence that J.C. Penney's weak 2017 was just an anomaly. Ameriprise Financial Inc. grew its position in shares of J.C. Penney Company, Inc. Holding by 12.8% in the first quarter.
J.C. Penney Company, Inc. TCW Group Inc. raised its stake in J.C. Penney by 10.5% in the second quarter.
Data source: J.C. Penney Q3 earnings report.
The average true range (ATR) was fashioned to allow traders to more precisely evaluate the daily volatility of an asset by using straightforward calculations.
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