Oppenheimer analysts Reaffirms Buy Rating on J.C. Penney (NYSE:JCP); Stock Soars

J.C. Penney Company, Inc (NYSE:JCP) was one of the key gainers on Monday as the Plano, Texas based company showed some indications that it could have longer-term success.

Brian Nagel and Rupesh Parikh, analysts at Oppenheimer, reiterated a “Buy” rating on the beleaguered retailer’s stock on Monday and mentioned that traffic in stores in the final weekend before Christmas was good. That made them extra hopeful that the corporation’s new strategy to promotions will assist it through the holidays and into 2013.

The company is in the midst of a key restructuring effort. Sales of J.C. Penney have plunged in four of the previous five years. J.C. Penney has overhauled its merchandise under its new chief executive officer Ron Johnson.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Sears Holdings Corporation (NASDAQ:SHLD) fell -1.13% to settle at $40.37, Kohl’s Corporation (NYSE:KSS) moved up +0.25% to end at $43.46 while Macy’s, Inc. (NYSE:M) jumped +0.03% to finish at $37.52 on Monday.

J.C. Penney Company, Inc. (NYSE:JCP) on Dec 24, 2012 increased +1.43% to the closing price of $19.87. The overall volume in the last trading session was 3.70 million shares. Its fifty two weeks range was $15.69 – $43.18. The total market capitalization remained at $4.36 billion.

JCP is ahead of its 52-week low with 26.64% and lagging behind from its 52-week high price with -53.73%. JCP’s last month’s stock price volatility remained 4.87%. In its share capital JCP has 219.24 million outstanding shares, among them 183.61 million shares have been floated in market exchange. JCP’s stock’s insider ownership remained 0.60%.

The stock price of JCP is moving forward from its 20 days moving average with 5.01% and remote negatively from 50 days moving average with -5.46%. JCP’s current year’s earnings per share experienced a downfall of -144.02% while its current quarter performance remained at -23.25%. Company’s beta coefficient included 1.80. Beta factors measure the amount of market risk associated with market trade.


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