Pier 1 Imports Inc. (NYSE:PIR)’s share price traded down 4.4% during mid-day trading on Wednesday . The stock traded as low as $5.21 and last traded at $5.27, with a volume of 1,172,634 shares changing hands. The stock had previously closed at $5.51.

Several equities analysts recently issued reports on the stock. Deutsche Bank AG reissued a “sell” rating on shares of Pier 1 Imports in a research note on Saturday, April 9th. Argus reaffirmed a “hold” rating on shares of Pier 1 Imports in a research note on Tuesday, May 3rd. Topeka Capital Markets initiated coverage on shares of Pier 1 Imports in a research note on Monday, May 23rd. They set a “buy” rating and a $12.00 price target on the stock. Zacks Investment Research raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Thursday, April 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of Pier 1 Imports in a research note on Monday, April 11th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Pier 1 Imports has an average rating of “Hold” and an average target price of $7.74.

The company’s 50-day moving average is $5.49 and its 200-day moving average is $5.55. The firm has a market capitalization of $428.73 million and a price-to-earnings ratio of 16.61.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Stockholders of record on Wednesday, July 20th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Monday, July 18th.

Several hedge funds have recently modified their holdings of PIR. Trexquant Investment LP purchased a new stake in shares of Pier 1 Imports during the fourth quarter worth $3,339,000. Wells Fargo & Company MN boosted 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 last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted 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 last quarter.

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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