Pier 1 Imports, Inc. (PIR) Given New $8.00 Price Target at Loop Capital
Pier 1 Imports, Inc. (NYSE:PIR) had its price target trimmed by Loop Capital from $10.00 to $8.00 in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the specialty retailer’s stock.
PIR has been the topic of a number of other reports. Morgan Stanley decreased their target price on Pier 1 Imports from $5.50 to $5.00 and set an underweight rating on the stock in a research report on Friday, June 30th. Deutsche Bank AG decreased their target price on Pier 1 Imports from $6.25 to $5.00 and set a sell rating on the stock in a research report on Wednesday, May 31st. Gordon Haskett began coverage on shares of Pier 1 Imports in a research note on Tuesday, May 9th. They set a reduce rating and a $6.00 price target for the company. Johnson Rice cut shares of Pier 1 Imports from an accumulate rating to a hold rating in a research note on Thursday, June 29th. Finally, Citigroup Inc. began coverage on shares of Pier 1 Imports in a research note on Friday, April 28th. They set a neutral rating and a $7.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $5.69.
Shares of Pier 1 Imports (PIR) traded up 2.81% during midday trading on Wednesday, hitting $4.39. The stock had a trading volume of 1,428,625 shares. Pier 1 Imports has a 1-year low of $3.73 and a 1-year high of $9.68. The firm has a market cap of $371.19 million, a price-to-earnings ratio of 10.97 and a beta of 1.70. The firm has a 50-day moving average price of $4.76 and a 200-day moving average price of $6.09.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The business had revenue of $409.50 million for the quarter, compared to the consensus estimate of $420.80 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Pier 1 Imports will post $0.47 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date was Monday, July 17th. Pier 1 Imports’s dividend payout ratio is presently 68.29%.
Several institutional investors have recently made changes to their positions in the stock. Airain ltd purchased a new position in shares of Pier 1 Imports during the first quarter valued at about $159,000. Nationwide Fund Advisors raised its position in shares of Pier 1 Imports by 321.8% in the first quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock valued at $1,972,000 after buying an additional 210,090 shares during the period. Prudential Financial Inc. purchased a new position in shares of Pier 1 Imports during the first quarter valued at about $2,093,000. Comerica Bank purchased a new position in shares of Pier 1 Imports during the first quarter valued at about $761,000. Finally, American Century Companies Inc. purchased a new position in shares of Pier 1 Imports during the first quarter valued at about $7,209,000. 85.96% of the stock is owned by 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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