Oppenheimer Releases a Hold Rating on JC Penney

By Austin Angelo

In a report released today, Brian Nagel from Oppenheimer reiterated a Hold rating on JC Penney (NYSE: JCP). The company’s shares opened today at $6.35, close to its 52-week low of $5.87.

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 2.0% and a 52.3% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Advance Auto Parts.

Currently, the analyst consensus on JC Penney is Hold and the average price target is $7.25, representing a 14.2% upside.

In a report issued on February 27, B. Riley also downgraded the stock to Hold with a $7.50 price target.

The company has a one year high of $11.85 and a one year low of $5.87. Currently, JC Penney has an average volume of 20.94M.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is neutral on the stock.

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J. C. Penney Co., Inc. operates department stores, which consist of selling merchandise and services to consumers through its department stores. It sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney and home furnishings. The company was founded by James Cash Penney in April 1902 and is headquartered in Plano, TX.