Stocks Stumbling to 52-Week Lows: J.C. Penney, Dell

NEW YORK ( TheStreet) -- The following stocks hit 52-week lows on Tuesday: J.C. Penney ( JCP), Consol Energy ( CNX), Dell ( DELL), Abercrombie & Fitch ( ANF), Jos. A Bank ( JOSB), Juniper Networks ( JNPR) and Electronic Arts ( EA).

Zynga ( ZNGA), meanwhile, is at its lowest since its initial public offering in December.

J.C. Penney

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 weekand 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.

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Consol Energy

Shares of Consol Energy hit a 52-week low on Tuesday of $55.02. The stock's 52-week low of $26.59 was set on June 12.

"We are lowering our price target to $35 (from $39) reflecting a lower multiple (7.8x vs. 9.0x) based on lower earnings growth and the recent market and sector pullback," Davenport analysts wrote in a May 21 report.

Consol Energy trades at an estimated price-to-earnings ratio for next year of 10.45 times; the average among its peers is 10.24. For comparison, Arch Coal ( ACI) has a lower forward P/E of 7.07.

Twenty-three of the 30 analysts who cover Consol Energy rated it buy. Six analysts gave the stock a hold rating and one rated it sell.

The stock has fallen 26.76% year to date.


Dell

Shares of Dell hit a 52-week low on Tuesday of $11.68. The stock's 52-week high of $18.36 was set on Feb. 21.

"Dell and HP results and comments have underscored the softness, with Dell PC units down 3% Y/Y in the April Q (our estimate), and HP down 1.6% Y/Y," Brean Murray Carret analysts wrote in a June 8 report. "We believe the PC channel is 'ample' while perhaps being 'filled' in retail and Asia generally. We believe PC pricing has been hyper‐aggressive in Asia (led by Acer, Lenovo, and to an extent HP), and aggressive generally in Europe."

Dell's forward P/E is 6.31; the average among its peers is 15.64. For comparison, Hewlett-Packard ( HPQ) has a higher forward P/E of 6.61.

Seventeen of the 34 analysts who cover Dell rated it hold. Fifteen analysts gave the stock a buy rating and two rated it sell.

The stock has fallen 18.52% year to date.

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Zynga

The online social gaming company's stock hit a new low since its initial public offering in December following a report from Cowen analysts that showed that usage went down last month, according to Bloomberg

"We are upgrading ZNGA shares based on valuation," Sterne Agee analysts wrote in a June 1 report. "However, our fundamental concerns are unchanged and revolve around: 1) a slowing social gaming market; 2) continued pressure on ZNGA's active user base; 3) lock-up expiration of 325 million shares earlier this week; 4) lack of visibility on the company's product pipeline; and 5) risk to 2013 estimates."

Shares of Zynga hit a new low of $4.91 on Tuesday. The stock's high since its IPO was $15.91 on March 2.

Twelve of the 23 analysts who cover Zynga rated it buy. Nine analysts gave the stock a hold rating and two rated it sell.

The stock has fallen 47.93% year to date.


Abercrombie & Fitch

Shares of Abercrombie & Fitch hit a 52-week low on Tuesday of $30.64. The stock's 52-week high of $78.25 was set on July 21.

"While shares have been under a lot of pressure with weakness in Europe as the prevailing theme following the Q1 report, we remain Overweight on ANF shares as we believe an improved domestic business and potential for margin gains this year and beyond remain intact," Piper Jaffray analysts wrote in a June 6 report. "Shares arecurrently trading at 6.2x (ex-cash) our FY14 EPS estimate."

Abercrombie's forward P/E is 15.01; the average among its peers is 16.81. For comparison, Gap ( GPS) has a higher forward P/E of 15.59.

Twenty of the 33 analysts who cover Abercrombie rated it hold. Twelve analysts gave the stock a buy rating and one rated it sell.

The stock has fallen 37.12% year to date.

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Jos. A Bank

Shares of Jos. A Bank hit a 52-week low on Tuesday of $39.87. The stock's 52-week high of $56.43 was set on Nov. 8.

"One of the most compelling parts of investing in the men's tailored clothing category is the opportunity MW and JOSB are attempting to capitalize on via a revived fashion cycle," JPMorgan analysts wrote in a June 7 report. "Specifically, there is currently a silhouette change taking place that is altering the men's apparel space, something management refers to as 'Modern/Tailored Fit.' Roughly every ten years the men's dress apparel industry goes through a replenishment cycle driven by a change in suit silhouette that typically lasts around five years. That said, after sub-par Q1 sales performance at both MW and JOSB, questions now arise regarding the sustainability of the trend and how the competitive landscape could create more harm than good in the near term. Trading at 11x 2012 EPS estimates, both stocks now seem to incorporate a decent amount of that fear, and if the higher-level thesis can hold true, the recent pullbacks could prove to be a compelling entry point for investors."

Jos. A Bank's forward P/E is 11.85; the average among its peers is 17.33. For comparison, Men's Wearhouse ( MW) has a lower forward P/E of 11.82.

Five of the eight analysts who cover Jos. A Bank rated it buy; three analysts gave the stock a hold rating.

The stock has fallen 17.7% year to date.


Juniper Networks

The networking equipment company announced a $1 billion buyback program.

"We believe the company will focus on its strategy, TAM and product roadmap, while offering no near-term financial updates," Wedbush analysts wrote in a June 8 report. "However, we believe investors will focus on the macro, sales cycles, the financial model and the slower-than-expected ramp of new products. Clearly weaker SP capex is the key issue for the company, but we believe its relatively weak positioning in mobility and the enterprise, product issues and the competitive environment are impediments to long-term growth. In our view, the company is likely to continue to spend on R&D (20%+ of rev), but may have to become more aggressive with M&A, create more meaningful go-to-market partnerships and moderate LT expectations of 20%+ revenue growth and OM of 25%+. We advise investors to remain on the sidelines until our contacts suggest a rebound in spending, improved execution and some easing in the competitive environment."

Shares of Juniper Networks hit a 52-week low on Tuesday of $16.33. The stock's 52-week high of $33.11 was set on July 7.

Twenty-five of the 40 analysts who cover Juniper Networks rated it hold. Twelve analysts gave the stock a buy rating and three rated it sell.

The stock has fallen 18.77% year to date.

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Electronic Arts

Shares of Electronic Arts hit a 52-week low of $12.71 on Tuesday. The stock's 52-week high of $26.13 was set on Nov. 4.

"Yesterday at E3, EA presented a plan to build a cross company infrastructure consisting of 1) a digital delivery platform, 2) core cross platform game engines, and 3) a common technology stack for implementing game development," Brean Murray Carret analysts wrote in a June 7 report. "The centralized platform will track consumers through every facet of the gaming experience and keep players engaged by offering added value to game purchases. EA believes that by providing a standardized development environment and moving past single point of sale transactions this platform will drive revenue growth and improve profitability whilepositioning it for both the ongoing growth of digital as well as the new console cycle."

Thirteen of the 27 analysts who cover Electronic Arts rated it buy. Twelve analysts gave the stock a hold rating and two rated it sell.

The stock has fallen 38.11% year to date.

-- Written by Alexandra Zendrian

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