Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “buy” rating reiterated by analysts at Nomura in a research report issued on Thursday. They presently have a $8.50 price objective on the stock. Nomura’s price objective points to a potential upside of 100.47% from the company’s previous close.
Several other research firms also recently issued reports on PIR. Jefferies Group reissued a “hold” rating and issued a $4.50 price target (up previously from $4.25) on shares of Pier 1 Imports in a research report on Thursday. Deutsche Bank AG assumed coverage on shares of Pier 1 Imports in a research report on Sunday, June 26th. They issued a “sell” rating and a $5.50 price target for the company. BTIG Research reissued a “sell” rating and issued a $3.50 price target on shares of Pier 1 Imports in a research report on Thursday. Zacks Investment Research downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Saturday, September 10th. Finally, Credit Suisse Group AG downgraded shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $4.50 to $4.00 in a research report on Thursday, September 8th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.30.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.24 on Thursday. The stock has a market cap of $341.05 million, a P/E ratio of 17.82 and a beta of 1.82. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $8.23. The firm has a 50-day moving average of $4.40 and a 200-day moving average of $5.48.
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, meeting the consensus estimate of ($0.05). The company earned $405.80 million during the quarter. Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, equities analysts expect that Pier 1 Imports will post $0.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Monday, October 17th. Pier 1 Imports’s dividend payout ratio is presently 116.67%.
Several large investors have recently made changes to their positions in the stock. Bayesian Capital Management LP bought a new stake in shares of Pier 1 Imports during the first quarter valued at $118,000. Cubist Systematic Strategies LLC bought a new stake in shares of Pier 1 Imports during the second quarter valued at $117,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Pier 1 Imports during the second quarter valued at $136,000. Stevens Capital Management LP bought a new stake in shares of Pier 1 Imports during the second quarter valued at $136,000. Finally, Princeton Alpha Management LP bought a new stake in shares of Pier 1 Imports during the second quarter valued at $143,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.
Pier 1 Imports Company Profile
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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