Pier 1 Imports Inc. (PIR) Stock Price Down 3%
Pier 1 Imports Inc. (NYSE:PIR) traded down 3% during mid-day trading 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.
A number of equities research analysts have issued reports on the company. Credit Suisse Group AG restated a “hold” rating on shares of Pier 1 Imports in a research note on Thursday, June 30th. Zacks Investment Research raised Pier 1 Imports from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Thursday, April 14th. Telsey Advisory Group lowered their price objective on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Thursday, June 30th. Vetr raised Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.87 price objective on the stock in a research report on Tuesday, May 3rd. Finally, Wolfe Research raised Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, June 22nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $7.74.
The firm has a market cap of $418.93 million and a P/E ratio of 16.23. The company’s 50-day moving average is $5.50 and its 200 day moving average is $5.54.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.02. The business earned $418.40 million during the quarter. During the same period last year, the company earned $0.08 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that Pier 1 Imports Inc. will post $0.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend is Monday, July 18th.
Several institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in 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 valued at $1,092,000 after buying an additional 11,682 shares during the period. Trexquant Investment LP purchased a new position in Pier 1 Imports during the fourth quarter valued at $3,339,000. Finally, Wells Fargo & Company MN increased its position in 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 valued at $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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