Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “hold” rating reissued by analysts at Jefferies Group in a research note issued to investors on Thursday. They presently have a $4.50 target price on the stock, up from their previous target price of $4.25. Jefferies Group’s target price would indicate a potential upside of 6.13% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Raymond James Financial Inc. restated a “buy” rating and issued a $8.00 target price (down previously from $9.00) on shares of Pier 1 Imports in a research note on Thursday, June 30th. Nomura restated a “buy” rating and issued a $8.50 target price on shares of Pier 1 Imports in a research note on Thursday, September 8th. Vetr cut Pier 1 Imports from a “strong-buy” rating to a “buy” rating and set a $4.70 target price on the stock. in a research note on Wednesday. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Pier 1 Imports in a research note on Thursday, June 30th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.33.
Shares of Pier 1 Imports (NYSE:PIR) traded down 5.15% during midday trading on Thursday, hitting $4.24. 4,421,295 shares of the stock traded hands. The company has a market capitalization of $341.05 million, a PE ratio of 17.82 and a beta of 1.73. The firm’s 50 day moving average price is $4.40 and its 200 day moving average price is $5.48. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $8.23.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $405.80 million for the quarter. Pier 1 Imports had a return on equity of 7.08% and a net margin of 1.06%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. Analysts expect that Pier 1 Imports will post $0.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.60%. Pier 1 Imports’s dividend payout ratio is currently 116.67%.
Hedge funds have recently made changes to their positions in the company. Skyline Asset Management LP increased its stake in shares of Pier 1 Imports by 3.9% in the first quarter. Skyline Asset Management LP now owns 2,360,400 shares of the company’s stock valued at $16,546,000 after buying an additional 87,700 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Pier 1 Imports by 1.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 67,722 shares of the company’s stock valued at $475,000 after buying an additional 938 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Pier 1 Imports during the first quarter valued at $1,781,000. Bayesian Capital Management LP acquired a new stake in shares of Pier 1 Imports during the first quarter valued at $118,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Pier 1 Imports during the first quarter valued at $2,517,000. Institutional investors and hedge funds own 98.63% of the company’s stock.
About Pier 1 Imports
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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