Pier 1 Imports’ (PIR) Neutral Rating Reiterated at Wedbush
Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a note issued to investors on Wednesday. They presently have a $4.00 price objective on the stock. Wedbush’s target price would indicate a potential downside of 32.66% from the stock’s current price.
A number of other brokerages have also recently weighed in on PIR. Oppenheimer Holdings Inc. cut shares of Pier 1 Imports from an “outperform” rating to a “market perform” rating in a report on Thursday, September 8th. Citigroup Inc. cut shares of Pier 1 Imports from a “strong-buy” rating to a “market perform” rating in a report on Thursday, September 8th. Nomura restated a “buy” rating and issued a $8.50 price objective on shares of Pier 1 Imports in a report on Thursday, September 8th. Credit Suisse Group AG cut shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $4.50 to $4.00 in a report on Thursday, September 8th. Finally, BTIG Research restated a “sell” rating and issued a $3.50 price objective on shares of Pier 1 Imports in a report on Thursday, September 29th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.36.
Shares of Pier 1 Imports (NYSE:PIR) opened at 5.94 on Wednesday. The company’s 50-day moving average is $4.88 and its 200-day moving average is $4.94. The stock has a market cap of $477.79 million, a P/E ratio of 24.96 and a beta of 1.57. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $7.70.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The company earned $405.80 million during the quarter. During the same period in the previous year, the company earned $0.04 earnings per share. Pier 1 Imports’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Pier 1 Imports will post $0.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 4.71%. Pier 1 Imports’s payout ratio is 116.67%.
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Several hedge funds have recently made changes to their positions in PIR. Oppenheimer & Co. Inc. increased its stake in shares of Pier 1 Imports by 26.9% in the third quarter. Oppenheimer & Co. Inc. now owns 23,729 shares of the company’s stock valued at $101,000 after buying an additional 5,029 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $136,000. Stevens Capital Management LP purchased a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $136,000. Finally, Princeton Alpha Management LP purchased a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $143,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Pier 1 Imports Company Profile
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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