The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor and analyst Austin Smith discusses topics across the investing world.

In today's edition, Austin does a quick "Buy, Sell, or Hold" analysis of J.C. Penney. Many have argued the company is at the beginning of a turnaround, while others believe they're dead in the water. Following a lot of restructuring, J.C. Penney swung to a fourth-quarter loss. Is it planting the seeds of future fortune, or chasing a pipe dream of profitability? The bears and the bulls certainly have valid arguments on either side, so watch the video below to see which camp Austin plants his flag in.