Pier 1 Imports Inc. (NYSE:PIR) shares dropped 3.3% during trading on Thursday . The company traded as low as $4.92 and last traded at $4.94, with a volume of 1,326,217 shares trading hands. The stock had previously closed at $5.11.

A number of research firms have recently issued reports on PIR. Bank of America Corp. restated a “sell” rating on shares of Pier 1 Imports in a research report on Thursday, June 30th. Credit Suisse Group AG restated a “hold” rating on shares of Pier 1 Imports in a research report on Thursday, June 30th. Raymond James Financial Inc. restated a “buy” rating and issued a $8.00 price target (down from $9.00) on shares of Pier 1 Imports in a research report on Thursday, June 30th. Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Pier 1 Imports in a report on Thursday, June 30th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Pier 1 Imports has a consensus rating of “Hold” and an average target price of $7.31.

The stock has a market capitalization of $417.30 million and a P/E ratio of 16.17. The company has a 50-day moving average of $5.22 and a 200 day moving average of $5.57.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $418.40 million for the quarter. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS. On average, 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 was paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th were given a dividend of $0.07 per share. The ex-dividend date was Monday, July 18th. This represents a $0.28 annualized dividend and a yield of 5.48%.

A hedge fund recently bought a new stake in Pier 1 Imports stock. Trexquant Investment LP purchased a new stake in Pier 1 Imports Inc. (NYSE:PIR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 656,001 shares of the company’s stock, valued at approximately $3,339,000. Trexquant Investment LP owned 0.78% of Pier 1 Imports at the end of the most recent quarter.

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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