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Shares of J.C. Penney hit a 52-week low on Tuesday of $23.18. The stock's 52-week high of $43.18 was set on Feb. 9.
"We conducted another round of JCP store checks in the NE over the past week and found that (1) traffic trends remain sluggish with SSS likely near its 1Q result, (2) tweaks in the marketing/pricing message modestly aided Memorial Day sales, and (3) inventory levels were in better shape sequentially," Deutsche Bank analysts wrote in a report Tuesday. "Net, we believe the transformation at JCP, while progressing, remains challenged and 2Q could be another tough quarter. We remain at Hold."
Eleven of the 19 analysts who cover J.C. Penney rated it hold. Five analysts gave the stock a buy rating and three rated it sell.
The stock has fallen 33.77% year to date.