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.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Wal-Mart Stores. Motley Fool newsletter services recommend Wal-Mart Stores. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.