Goldman Sachs Group Inc. initiated coverage on shares of J.C. Penney Co. (NYSE:JCP) in a research note released on Wednesday morning, TheFlyOnTheWall.com reports. The firm issued a neutral rating and a $14.00 target price on the stock.
J.C. Penney Co. (NYSE:JCP) traded up 1.81% on Wednesday, hitting $14.4775. The stock had a trading volume of 14,479,525 shares. J.C. Penney Co. has a one year low of $12.12 and a one year high of $32.55. The stock’s 50-day moving average is $14.19 and its 200-day moving average is $16.20. The company’s market cap is $3.191 billion. J.C. Penney Co. also was the recipient of some unusual options trading on Wednesday. Investors bought 58,202 call options on the company. This is an increase of approximately 107% compared to the average daily volume of 28,077 call options.
A number of other analysts have also recently weighed in on JCP. Analysts at Imperial Capital upgraded shares of J.C. Penney Co. (NYSE:JCP) from a hold rating to a buy rating in a research note to investors on Tuesday. Separately, analysts at BTIG Research reiterated a buy rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Thursday, August 29th. Finally, analysts at JPMorgan Chase & Co. reiterated a hold rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Tuesday, August 20th. They now have a $13.00 price target on the stock.
Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $16.09.
In other J.C. Penney Co. news, major shareholder Pershing Square Capital Manage sold 39,075,771 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $12.90, for a total value of $504,077,445.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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