Shares of Pier 1 Imports Inc. (NYSE:PIR) dropped 3% on Thursday . The company traded as low as $5.15 and last traded at $5.17, with a volume of 2,093,220 shares trading hands. The stock had previously closed at $5.33.

PIR has been the subject of a number of research reports. Zacks Investment Research raised Pier 1 Imports from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research note on Thursday, April 14th. Vetr raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.87 price target for the company in a research note on Tuesday, May 3rd. Topeka Capital Markets initiated coverage on Pier 1 Imports in a report on Monday, May 23rd. They issued a “buy” rating and a $12.00 price objective for the company. Raymond James Financial Inc. reissued a “buy” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Pier 1 Imports in a report on Thursday, June 30th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Pier 1 Imports in a report on Thursday, April 14th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.74.

The firm has a 50 day moving average of $5.51 and a 200-day moving average of $5.54. The stock has a market cap of $419.75 million and a P/E ratio of 16.27.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 29th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02. The firm earned $418.40 million during the quarter. Pier 1 Imports’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities analysts anticipate that Pier 1 Imports Inc. will post $0.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 5.45%.

A number of hedge funds recently modified their holdings of PIR. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Pier 1 Imports by 5.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 214,478 shares of the company’s stock worth $1,092,000 after buying an additional 11,682 shares during the period. Trexquant Investment LP bought a new stake in shares of Pier 1 Imports during the fourth quarter worth about $3,339,000. Penn Capital Management Co. Inc. boosted its stake in shares of Pier 1 Imports by 7.6% in the fourth quarter. Penn Capital Management Co. Inc. now owns 861,139 shares of the company’s stock worth $4,383,000 after buying an additional 60,731 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Pier 1 Imports by 81.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,946,309 shares of the company’s stock worth $35,356,000 after buying an additional 3,108,319 shares during the period.

Pier 1 Imports, Inc is a global importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of furniture, home furnishings, dining and kitchen goods, candles, gifts and other specialty items for the home.

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