Citigroup Initiates a Sell Rating on JC Penney (JCP)

By Austin Angelo

JC Penney (JCPResearch Report) received a Sell rating from Citigroup analyst Paul Lejuez today. The company’s shares opened today at $1.14, close to its 52-week low of $1.05.

According to TipRanks.com, Lejuez is a 5-star analyst with an average return of 11.8% and a 58.0% success rate. Lejuez covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Signet Jewelers Limited, and Ascena Retail Group.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for JC Penney with a $1.38 average price target.

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Based on JC Penney’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $2.73 billion and GAAP net loss of $151 million. In comparison, last year the company earned revenue of $2.81 billion and had a GAAP net loss of $128 million.

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J. C. Penney Co., Inc. is a holding company, which engages in the business of selling merchandise and services to consumers through its department stores and website. It offers appliances, handbags, shoes, jewelry, shoes, and clothes. The company was founded by James Cash Penney in April 1902 and is headquartered in Plano, TX.