JC Penney Holding On To Strong Gain In Afternoon Trading

11 November, 2017, 01:26 | Author: Valerie Burke
  • JCPenney

Now J.C. Penney Company Inc (NYSE:JCP)'s shares owned by insiders are 1.9%, whereas shares owned by institutional owners are 73.5%. When stocks are *very* In Play one can see a RVOL of 5 and above. 100,000 shares traded per day would be a minimum for most traders and some require 1,000,000. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator's stock worth $103,000 after buying an additional 4,205 shares during the last quarter. Also, J. C. Penney Company, Inc. Holding by 10.6% in the second quarter.

American department store chain JC Penney reported same-store sales growth that more than doubled analysts' forecasts, sending its stock price surging.

Penney, similar to many other retailers, heavily discounted apparel in the third quarter to clear room for holiday merchandise. Looking back over the last month, shares have performed -29.10%. Ameriprise Financial Inc. grew its position in shares of J.C. Penney Company, Inc. (NYSE: ANF) stock is found to be 3.89% volatile for the week, while 3.64% volatility is recorded for the month. Finally, Guggenheim started coverage on shares of J.C. Penney in a report on Friday, September 30th. Holding by 9.8% in the second quarter. Hedge funds and other institutional investors own 71.99% of the company's stock. In it, J.C. Penney acknowledged that getting rid of old inventory and transitioning to a new women's apparel assortment was tougher than expected. It was last traded at $2.51 apiece.

Penney's stock price, was trading higher in the pre-market. On an adjusted basis, net losses were $102 million, or 33 cents per share - which was worse than analysts' predictions for a net loss of 17 cents per share. Holding had a positive return on equity of 10.55% and a negative net margin of 0.94%.

The company's total sales of $2.81 billion fell 1.8% from $2.86 billion a year ago but exceeded analysts' expectations of $2.77 billion. During the same period in the previous year, the company posted ($0.21) earnings per share.

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J.C. Penney Company Inc (NYSE:JCP)'s trailing twelve month revenues are $12.49 Billion, whereas its price to sales ratio for the same period is 0.07.

J. C. Penney Company, Inc is a holding company. A rating of 1 or 2 would represent a Buy, and a 3 rating would signify a Hold on the stock. The company was upgraded on Friday, December 2 by Bank of America. Holding and gave the stock a "hold" rating in a research report on Friday, October 27th.

Credit Suisse Group AG initiated coverage on shares of J.C. Penney Co. Thus, at least one part of J.C. Penney's forecast doesn't seem especially conservative. Deutsche Bank AG reiterated a buy rating on shares of J.C. Penney in a report on Monday, October 31st. Finally, Teachers Advisors Inc. raised its stake in J.C. Penney by 13.3% in the second quarter. These guidelines do not hold true in all situations, but they are a good general aid in trading decisions. Comparable sales at Nordstrom's, which were also announced on Thursday, also underwhelmed. (NYSE:JCP). According to First Call, the current consensus target price on shares is sitting at $3.72. Holding news, CFO Jeffrey A. Davis acquired 50,000 shares of the company's stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $3.62 per share, with a total value of $181,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javier G. Teruel bought 135,135 shares of the stock in a transaction on Tuesday, August 22nd. The stock's market cap is $3.06 billion. The firm's revenue was down 1.4% compared to the same quarter past year.

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