Pier 1 Imports Inc. (NYSE:PIR) shares were up 6.8% during mid-day trading on Tuesday after Telsey Advisory Group raised their price target on the stock from $5.00 to $5.50. Telsey Advisory Group currently has a market perform rating on the stock. Pier 1 Imports traded as high as $5.74 and last traded at $5.63, with a volume of 3,642,268 shares changing hands. The stock had previously closed at $5.27.

A number of other brokerages have also weighed in on PIR. BTIG Research reaffirmed a “sell” rating and issued a $3.50 price target on shares of Pier 1 Imports in a research note on Thursday, September 22nd. Wedbush reaffirmed an “outperform” rating on shares of Pier 1 Imports in a research note on Wednesday, September 28th. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Jefferies Group reaffirmed a “hold” rating and issued a $4.50 price target (up from $4.25) on shares of Pier 1 Imports in a research note on Thursday, September 29th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Pier 1 Imports in a research note on Friday, September 30th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.36.

A number of hedge funds have recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new stake in Pier 1 Imports during the first quarter valued at approximately $118,000. Cubist Systematic Strategies LLC acquired a new stake in Pier 1 Imports during the second quarter valued at approximately $117,000. Oppenheimer & Co. Inc. increased its stake in Pier 1 Imports by 26.9% in the third quarter. Oppenheimer & Co. Inc. now owns 23,729 shares of the company’s stock valued at $101,000 after buying an additional 5,029 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Pier 1 Imports during the second quarter valued at approximately $136,000. Finally, Stevens Capital Management LP acquired a new stake in Pier 1 Imports during the second quarter valued at approximately $136,000. 91.74% of the stock is owned by institutional investors.

The company has a 50 day moving average of $4.53 and a 200-day moving average of $4.96. The firm has a market capitalization of $480.20 million, a P/E ratio of 25.08 and a beta of 1.57.

Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data 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 1.06% and a return on equity of 7.20%. The business had revenue of $405.80 million for the quarter. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, analysts predict that Pier 1 Imports Inc. 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. Investors of record on Wednesday, October 19th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, October 17th. Pier 1 Imports’s payout ratio is 116.67%.

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.

5 Day Chart for NYSE:PIR

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