Pier 1 Imports Inc. (PIR) Price Target Raised to $5.50 at Telsey Advisory Group
Pier 1 Imports Inc. (NYSE:PIR) had its price objective upped by research analysts at Telsey Advisory Group from $5.00 to $5.50 in a note issued to investors on Tuesday. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 4.36% from the stock’s previous close.
PIR has been the topic of a number of other research reports. Oppenheimer Holdings Inc. lowered shares of Pier 1 Imports from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 8th. BTIG Research reaffirmed a “sell” rating and set a $3.50 target price on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Nomura reaffirmed a “buy” rating and set a $8.50 target price on shares of Pier 1 Imports in a research report on Thursday, September 29th. Raymond James Financial Inc. lowered shares of Pier 1 Imports from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, September 8th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Pier 1 Imports in a research report on Friday, September 30th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.36.
Shares of Pier 1 Imports (NYSE:PIR) opened at 5.27 on Tuesday. The company has a 50 day moving average of $4.45 and a 200-day moving average of $5.01. The firm has a market cap of $423.90 million, a PE ratio of 22.14 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 announced its 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 business had revenue of $405.80 million for the quarter. During the same period last year, the firm posted $0.04 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Pier 1 Imports will post $0.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, October 17th. This represents a $0.28 annualized dividend and a yield of 5.31%. Pier 1 Imports’s dividend payout ratio is currently 116.67%.
Hedge funds have recently made changes to their positions in the company. 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 in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Pier 1 Imports during the first quarter valued at $118,000. A.R.T. Advisors LLC purchased a new stake in shares of Pier 1 Imports during the first quarter valued at $1,781,000. Aristotle Capital Boston LLC boosted its stake in shares of Pier 1 Imports by 0.9% in the first quarter. Aristotle Capital Boston LLC now owns 398,609 shares of the company’s stock valued at $2,794,000 after buying an additional 3,649 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Pier 1 Imports during the second quarter valued at $164,000. 91.74% of the stock is owned by hedge funds and other institutional investors.
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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