Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “buy” rating reiterated by research analysts at Nomura in a research note issued on Thursday. They currently have a $8.50 price objective on the stock. Nomura’s target price suggests a potential upside of 99.06% from the company’s current price.
A number of other research analysts have also recently weighed in on PIR. Raymond James Financial Inc. reiterated a “buy” rating and issued a $8.00 target price (down from $9.00) on shares of Pier 1 Imports in a research note on Thursday, June 30th. Vetr cut shares of 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 shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Credit Suisse Group AG reiterated a “hold” rating on shares of Pier 1 Imports in a research note on Thursday, June 30th. Finally, Jefferies Group set a $4.30 target price on shares of Pier 1 Imports and gave the company a “hold” rating in a research note on Thursday, September 8th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.27 on Thursday. The firm has a market cap of $348.70 million, a price-to-earnings ratio of 13.51 and a beta of 1.73. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23. The company’s 50 day moving average is $4.42 and its 200 day moving average is $5.50.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The business had revenue of $405.80 million for the quarter. During the same quarter last year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts anticipate that Pier 1 Imports will post $0.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 6.56%. Pier 1 Imports’s payout ratio is currently 84.85%.
A number of large investors have recently made changes to their positions in the stock. Pacad Investment Ltd. boosted its stake in shares of Pier 1 Imports by 75.9% in the first quarter. Pacad Investment Ltd. now owns 82,500 shares of the company’s stock valued at $578,000 after buying an additional 35,600 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Pier 1 Imports during the first quarter valued at $330,000. Ngam Advisors L.P. purchased a new stake in shares of Pier 1 Imports during the first quarter valued at $239,000. TIAA CREF Investment Management LLC boosted its stake in shares of Pier 1 Imports by 36.1% in the first quarter. TIAA CREF Investment Management LLC now owns 463,781 shares of the company’s stock valued at $3,251,000 after buying an additional 123,047 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Pier 1 Imports by 146,013.3% in the first quarter. JPMorgan Chase & Co. now owns 1,317,942 shares of the company’s stock valued at $9,239,000 after buying an additional 1,317,040 shares during the last quarter. 98.63% of the stock is owned by institutional investors and hedge funds.
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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