Pier 1 Imports’ (PIR) Buy Rating Reaffirmed at Nomura
Several other equities analysts have also issued reports on PIR. Raymond James Financial Inc. reissued a buy rating and set a $8.00 target price (down previously from $9.00) on shares of Pier 1 Imports in a research note on Thursday, June 30th. Vetr lowered 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 raised Pier 1 Imports from a sell rating to a hold rating in a research note on Wednesday, August 31st. Credit Suisse Group AG reissued 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 Pier 1 Imports and gave the stock a hold rating in a research note on Thursday, September 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $6.30.
Pier 1 Imports (NYSE:PIR) traded down 3.13% during mid-day trading on Thursday, reaching $4.33. The company’s stock had a trading volume of 890,069 shares. Pier 1 Imports has a 12-month low of $3.73 and a 12-month high of $8.23. The firm’s 50 day moving average price is $4.41 and its 200 day moving average price is $5.49. The stock has a market cap of $348.29 million, a price-to-earnings ratio of 18.19 and a beta of 1.73.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Pier 1 Imports had a return on equity of 7.08% and a net margin of 1.06%. The business had revenue of $405.80 million for the quarter. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities analysts predict that Pier 1 Imports will post $0.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a $0.07 dividend. The ex-dividend date is Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.26%. Pier 1 Imports’s dividend payout ratio is currently 116.67%.
Several hedge funds have recently bought and sold shares of PIR. Vanguard Group Inc. boosted its stake in Pier 1 Imports by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,117,766 shares of the company’s stock valued at $31,445,000 after buying an additional 247,395 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Pier 1 Imports by 356.4% in the second quarter. JPMorgan Chase & Co. now owns 6,015,526 shares of the company’s stock valued at $30,920,000 after buying an additional 4,697,584 shares in the last quarter. Numeric Investors LLC boosted its stake in Pier 1 Imports by 153.2% in the second quarter. Numeric Investors LLC now owns 3,593,202 shares of the company’s stock valued at $18,469,000 after buying an additional 2,174,042 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Pier 1 Imports by 108.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,130 shares of the company’s stock valued at $18,408,000 after buying an additional 1,862,793 shares in the last quarter. Finally, Skyline Asset Management LP boosted its stake in 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. 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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