JC Penney was Downgraded to a Hold Rating at Robert W. Baird

By Jason Carr

JC Penney (NYSE: JCP) received a Hold rating and a $5 price target from Robert W. Baird analyst Mark Altschwager today. The company’s shares closed last Friday at $4.55, close to its 52-week low of $4.48.

According to TipRanks.com, Altschwager is ranked 0 out of 5 stars with an average return of -12.1% and a 32.5% success rate. Altschwager covers the Services sector, focusing on stocks such as Abercrombie Fitch, Urban Outfitters, and Nordstrom Inc.

Currently, the analyst consensus on JC Penney is Hold and the average price target is $6.25, representing a 37.4% upside.

In a report issued on May 11, Jefferies also reiterated a Hold rating on the stock with a $7 price target.

The company has a one year high of $11.30 and a one year low of $4.48. Currently, JC Penney has an average volume of 20.02M.

Based on the recent corporate insider activity of 52 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.