J. C. Penney (NYSE:JCP) Share Price May Be About to Change Direction; Nomura Upgrades The Company.


J. C. Penney (NYSE:JCP) Stock Upgrade

In a note revealed today, Nomura upgraded shares of J. C. Penney (NYSE:JCP) to a solid Neutral rating from their previous Reduce rating.

From a total of 21 analysts covering J.C. Penney Company (NYSE:JCP) stock, 8 rate it a ”Buy”, 8 a “Sell”, and 10 a ”Hold”. This means that 31% of the ratings are positive. The highest target price is $18 while the lowest target price is $5. The mean of all analyst targets is $9.79 with a 16.38% above today’s ($7.57) stock price. J.C. Penney Company was the topic of 13 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Citigroup initiated shares on October 7 with “Sell” rating. Morgan Stanley maintained shares with “Underweight” rating and $6 target share price in a report from an August 18. Credit Suisse maintained JCP stock in a recent report from September 21 with “Underperform” rating. B. Riley & Co initiated the rating on August 17. B. Riley & Co has a “Buy” rating and a $12.50 price target on shares. Finally, Imperial Capital maintained the stock with “Underperform” rating in a report issued on an August 27.

Approximately 4.07 million shares of stock traded hands. J C Penney Company Inc (NYSE:JCP) has declined 9.45% since May 7, 2015 and is downtrending. It has underperformed by 7.52% the S&P500.

The overall sentiment of institutions has decreased to 0.84 in Q2 2015. Its down 0.24, from 1.08 in 2015Q2. The ratio worsened, as 57 institutions have sold all the shares of J C Penney Company Inc that they owned while 101 funds have taken shares off the table. 41 funds have purchased shares for the first time while 91 added to their positions. These institutions now hold 222.72 million shares or 10.86% less than the 249.87 million shares they owned in 2015Q2.

The Fund Raiff Partners Inc currently is holding shares equating to 10.87% of its total portfolio in J C Penney Company Inc representing a total of 400,000 shares. Another fund,Caerus Global Investors Llc, is holding a total of 120,000 shares equating to 3.05% of their holdings. Additionally, Mcglinn Capital Management Inc has a 99,200 share stake in J C Penney Company Inc which represents 2.78% of their total portfolio. The Fund, Armistice Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.35% of their total portfolio. Finally Forester Capital Management Ltd, a fund which is based in the state of Illinois reported a total holdings of 237,220 shares.

J. C. Penney Company, Inc. is a holding company. The company has a market cap of $2.26 billion. The Company’s operating subsidiary is J. It currently has negative earnings. C.

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.” Get a free copy of the Zacks research report on J C Penney Company Inc (JCP).