Pier 1 Imports Inc. (NYSE:PIR) shares dropped 2.2% on Friday . The company traded as low as $4.75 and last traded at $4.85, with a volume of 1,287,167 shares. The stock had previously closed at $4.96.

PIR has been the topic of a number of research reports. Deutsche Bank AG initiated coverage on shares of Pier 1 Imports in a research note on Sunday, June 26th. They issued a “sell” rating and a $5.50 target price on the stock. Credit Suisse Group AG reissued a “hold” rating on shares of Pier 1 Imports in a research note on Thursday, April 14th. Topeka Capital Markets initiated coverage on shares of Pier 1 Imports in a report on Monday, May 23rd. They set a “buy” rating and a $12.00 price target for the company. Vetr downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating and set a $6.10 price target for the company. in a report on Tuesday, April 12th. Finally, Wedbush restated a “neutral” rating and set a $6.00 price target on shares of Pier 1 Imports in a report 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 stock. The stock has an average rating of “Hold” and an average target price of $7.31.

The firm’s 50 day moving average price is $5.35 and its 200 day moving average price is $5.54. The company has a market capitalization of $400.15 million and a PE ratio of 15.51.

Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, June 29th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $418.40 million for the quarter. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Equities analysts predict that Pier 1 Imports Inc. will post $0.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Monday, July 18th.

A hedge fund recently raised its stake in Pier 1 Imports stock. Wells Fargo & Company MN increased its position in Pier 1 Imports Inc. (NYSE:PIR) by 81.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,946,309 shares of the company’s stock after buying an additional 3,108,319 shares during the period. Wells Fargo & Company MN owned 8.28% of Pier 1 Imports worth $35,356,000 as of its most recent SEC filing.

Pier 1 Imports, Inc is an 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 decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.

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