Pier 1 Imports Inc. (PIR) Trading Down 3.3%
Pier 1 Imports Inc. (NYSE:PIR) traded down 3.3% during mid-day trading on Wednesday . The company traded as low as $4.61 and last traded at $4.64, with a volume of 802,863 shares changing hands. The stock had previously closed at $4.80.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank AG assumed coverage on shares of Pier 1 Imports in a research note on Sunday, June 26th. They issued a “sell” rating and a $5.50 price objective for the company. Argus reaffirmed a “hold” rating on shares of Pier 1 Imports in a research note on Tuesday, May 3rd. Topeka Capital Markets assumed coverage on shares of Pier 1 Imports in a research note on Monday, May 23rd. They issued a “buy” rating and a $12.00 price objective for the company. Vetr raised shares of Pier 1 Imports from a “strong sell” rating to a “sell” rating and set a $6.15 price objective for the company in a research note on Monday, April 25th. Finally, Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Friday, July 1st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.31.
The firm’s 50 day moving average price is $5.07 and its 200-day moving average price is $5.63. The firm has a market cap of $376.47 million and a PE ratio of 14.59.
Pier 1 Imports (NYSE:PIR) last released its 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 business earned $418.40 million during the quarter. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Analysts anticipate that Pier 1 Imports Inc. will post $0.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Monday, July 18th.
A hedge fund recently bought a new stake in Pier 1 Imports stock. Trexquant Investment LP bought a new position in Pier 1 Imports Inc. (NYSE:PIR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 656,001 shares of the company’s stock, valued at approximately $3,339,000. Trexquant Investment LP owned about 0.78% of Pier 1 Imports 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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