Piper Jaffray Keeps a Hold Rating on JC Penney (JCP)

By Carrie Williams

In a report issued on August 16, Erinn Murphy from Piper Jaffray reiterated a Hold rating on JC Penney (NYSE: JCP), with a price target of $1.50. The company’s shares closed yesterday at $1.79, close to its 52-week low of $1.60.

According to TipRanks.com, Murphy is a 1-star analyst with an average return of -0.5% and a 49.0% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Wolverine World Wide, and G-III Apparel Group.

Currently, the analyst consensus on JC Penney is a Hold with an average price target of $1.88, representing a 5.0% upside. In a report issued on August 16, Guggenheim also maintained a Hold rating on the stock.

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The company has a one-year high of $4.75 and a one-year low of $1.60. Currently, JC Penney has an average volume of 17.86M.

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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.