J.C. Penney Company Inc. (NYSE:JCP): Negative Investor Sentiments Despite Stock Gains


Dallas, Texas 05/013/2014 (FINANCIALSTRENDS) –J.C. Penney Company, Inc. (NYSE:JCP)’s stock yesterday gained 4.32% and closed at $9.18, over 87% up from its 52 week low of $4.90. Despite the stock is trading 53% below its 52 week high of $19.63, it has reported significant gains of 54% during past 3 months trade. Yesterday the stock traded with significant volume of 34.52 million shares against its 30 day average volume of 16.83 million shares. The stock is trading almost flat in line with its 200 day simple moving average and nearly 9% above its 50 day simple moving average.

Analysts’ Upgrades:

Number of equities research analysts have recently commented on the stock of J.C. Penney Company, Inc. (NYSE:JCP). The most recent was by the investment analysts at Citigroup Inc. (NYSE:C) who upgraded the stock to a “neutral” rating from a “sell” rating. However, the analysts have also cut their price target on the stock to $4 per share from their previous target of $9. The analyst backed their rating upgrade stating the stock has lower risk on same store sales during 1H14 given the construction projects completion which accounts for 19% of total square footage.

Secondly, investment analysts at UBS AG (NYSE:UBS) also upgraded the stock to a “neutral” rating from a “sell” rating with a price target of $9, up from their previous target of $4. Separately, analysts at Belus Capital also upgraded the stock to a “hold” rating from a “sell” rating with a price target of $9. Analysts at Telsey Advisory Group maintain a price target of $15 on the stock. The stock of J.C. Penney Company, Inc. (NYSE:JCP) recently has a consensus rating of “hold” with an average price objective of $9.26.

Investor Sentiment:

Recently, JPMorgan reported that very negative sentiment about the stock of J.C. Penney are still prevailing, citing it as a finding of its “Bull-Bear debate on JC Penney.”

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