J C Penney (NYSE:JCP) Shares Gap Up on Insider Buying Activity

J C Penney Company Inc (NYSE:JCP) shares gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $0.99, but opened at $1.02. J C Penney shares last traded at $1.03, with a volume of 17677775 shares.

Specifically, Director Javier G. Teruel acquired 223,419 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $0.98 per share, with a total value of $218,950.62. Following the purchase, the director now directly owns 1,045,903 shares of the company’s stock, valued at approximately $1,024,984.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.41% of the company’s stock.

Several equities analysts have weighed in on JCP shares. Zacks Investment Research raised J C Penney from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research report on Tuesday, April 30th. B. Riley set a $1.00 price target on J C Penney and gave the stock a “hold” rating in a research report on Friday, May 17th. Six analysts have rated the stock with a sell rating and five have given a hold rating to the stock. J C Penney has a consensus rating of “Sell” and a consensus target price of $2.53.

The stock has a market cap of $314.38 million, a P/E ratio of -1.10 and a beta of 1.34. The company has a debt-to-equity ratio of 4.75, a current ratio of 1.51 and a quick ratio of 0.24.

J C Penney (NYSE:JCP) last issued its earnings results on Tuesday, May 21st. The department store operator reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.07). J C Penney had a negative net margin of 2.78% and a negative return on equity of 33.29%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted ($0.22) EPS. J C Penney’s revenue was down 5.6% compared to the same quarter last year. Analysts predict that J C Penney Company Inc will post -1.04 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of JCP. Texas Permanent School Fund lifted its stake in shares of J C Penney by 4.0% during the first quarter. Texas Permanent School Fund now owns 214,627 shares of the department store operator’s stock worth $320,000 after purchasing an additional 8,234 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of J C Penney by 0.3% during the first quarter. Principal Financial Group Inc. now owns 2,569,011 shares of the department store operator’s stock worth $3,828,000 after acquiring an additional 8,401 shares during the last quarter. Comerica Bank increased its position in shares of J C Penney by 2.9% during the first quarter. Comerica Bank now owns 314,211 shares of the department store operator’s stock worth $396,000 after acquiring an additional 8,965 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of J C Penney by 12.6% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,550 shares of the department store operator’s stock worth $133,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Actinver Wealth Management Inc. purchased a new stake in shares of J C Penney during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 70.54% of the company’s stock.

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About J C Penney (NYSE:JCP)

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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