Pier 1 Imports Inc. (PIR) Downgraded to “Buy” at Vetr Inc.
A number of other equities analysts also recently commented on the company. 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 22nd. Wolfe Research upgraded Pier 1 Imports from an underperform rating to a peer perform rating in a report on Wednesday, June 22nd. Telsey Advisory Group dropped their target price on Pier 1 Imports from $6.00 to $5.00 and set a market perform rating on the stock in a report on Thursday, June 30th. Zacks Investment Research upgraded Pier 1 Imports from a sell rating to a hold rating in a report on Wednesday, August 31st. Finally, Longbow Research began coverage on Pier 1 Imports in a report on Thursday, June 16th. They set a neutral rating on the stock. Six investment 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. Pier 1 Imports has an average rating of Hold and a consensus target price of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.27 on Wednesday. The stock has a 50 day moving average of $4.42 and a 200-day moving average of $5.50. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $8.23. The company has a market capitalization of $348.70 million, a PE ratio of 13.51 and a beta of 1.73.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. The firm had revenue of $405.80 million for the quarter. During the same period in the previous year, the business posted $0.04 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts predict that Pier 1 Imports will post $0.26 earnings per share for the current fiscal year.
The business 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. This represents a $0.28 dividend on an annualized basis and a yield of 6.56%. Pier 1 Imports’s dividend payout ratio is currently 84.85%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. raised its position 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 worth $578,000 after buying an additional 35,600 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Pier 1 Imports during the first quarter worth about $330,000. Ngam Advisors L.P. acquired a new position in shares of Pier 1 Imports during the first quarter worth about $239,000. TIAA CREF Investment Management LLC raised its position 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 worth $3,251,000 after buying an additional 123,047 shares during the period. Finally, JPMorgan Chase & Co. raised its position 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 worth $9,239,000 after buying an additional 1,317,040 shares during the period. 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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