JC Penney Stock Surges as Turnaround Plan Shows Results

Penney store in Pembroke Pines Fla. J.C. Penney Co. Inc. reports earnings Friday Nov. 10 2017

After a recent check, the 14-day RSI for Multicell Techs Inc is now at 53.19, the 7-day stands at 57.04, and the 3-day is sitting at 68.94.

JCP has been the topic of a number of other research reports. 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. Finally, BidaskClub cut J.C. Penney Company, Inc. Deutsche Bank AG reiterated a buy rating on shares of J.C. Penney in a report on Monday, October 31st. Also, Director Paul J. Brown acquired 25,000 shares of J.C. Penney Company, Inc. Three analysts have rated the stock with a sell rating, twenty have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of "Hold" and an average price target of $5.06.

J.C. Penney reported some good news from its third quarter: a 1.7 percent increase in same-store sales that beat forecasts and a smaller loss than expected.

Taking a broader look brokerage firms' analysts on the street with an expectant view have J.C. Penney Company Inc (NYSE:JCP) high price target of $15 and with a conservative view have low price target of $4. Based on a recent bid, its distance from 20 days simple moving average is -7.05%, and its distance from 50 days simple moving average is -10.39% while it has a distance of 0.78% from the 200 days simple moving average. At the close of regular trading, its last week's stock price volatility was 17.79% which for the month reaches 36.3%.

Shares rose almost 13 percent, or 34 cents, to $3.09 in Friday trading.

Only two weeks ago, Penney shares fell more than 14% after it warned its third-quarter loss would be far worse than analysts expected due to heavy discounting on its apparel lines.

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FILE - This Monday, Aug. 19, 2013, file photo shows a J.C. Penney store in Pembroke Pines, Fla.

US department stores have worked hard this year to rein in inventory and build better delivery services.

Looking ahead, the company expects same-store sales in the range of down 1 percent to flat and adjusted earnings per share of 2 cents to 8 cents. Holding news, Chairman Marvin R. Ellison purchased 100,000 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $3.64 per share, with a total value of $491,891.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Most company stocks have very little volatility.

Other large investors have also added to or reduced their stakes in the company. Chartwell Investment Partners LLC raised its stake in J.C. Penney by 48.6% in the second quarter. For the quarter, shares are performing at -30.03%.

INC Research Holdings, Inc.

While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%.

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