NEW YORK (TheStreet) -- J.C. Penney (JCP) continued its turnaround on Tuesday, as the stock was rising 4.54% to $8.32 at 2:20 p.m. after Standard & Poors upgraded the department store's credit rating to "neutral" from "negative."
The company also rose this week in the wake of its six separate advertisements during the Academy Awards on Sunday. The ads, which were part of J.C. Penney's new "When it fits, you feel it" campaign and put a spotlight on its newest women's fashion, have "struck a chord among some marketing experts," according to USA Today. J.C. Penney has also sponsored the Oscars for the last 13 years.
J.C. Penney's turnaround began in earnest last week after it reported fourth-quarter earnings that beat analysts' expectations and announced that it was on pace for a first quarter that would mark its first profitable quarter since early 2011.
TheStreet Ratings team rates PENNEY (J C) CO as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENNEY (J C) CO (JCP) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and poor profit margins."