B.Riley FBR Sticks to Their Hold Rating for JC Penney (JCP)

By Jason Carr

In a report released today, Jeff Van Sinderen from B.Riley FBR maintained a Hold rating on JC Penney (JCPResearch Report), with a price target of $0.80. The company’s shares closed last Monday at $1.08.

According to TipRanks.com, Sinderen is a 1-star analyst with an average return of -1.8% and a 45.5% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings, and Chromadex.

Currently, the analyst consensus on JC Penney is a Hold with an average price target of $0.90.

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Based on JC Penney’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $2.62 billion and GAAP net loss of $48 million. In comparison, last year the company earned revenue of $2.73 billion and had a GAAP net loss of $151 million.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JCP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

J. C. Penney Co., Inc. is a holding company, which through its subsidiary, J. C. Penney Corporation, Inc., engages in the selling merchandise and services to consumers through its department stores and website. It offers appliances, handbags, shoes, jewelry, shoes, and clothes.