Zacks Investment Research upgraded shares of Pier 1 Imports (NYSE:PIR) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Pier 1 Imports, Inc. consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier, selling a wide variety of furniture, decorative home furnishings, dining and kitchen goods, accessories and other specialty items for the home. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The company supplies merchandise and licenses the Pier 1 name to Sears Mexico and Sears Puerto Rico. “
Other analysts have also recently issued reports about the company. ValuEngine upgraded Pier 1 Imports from a hold rating to a buy rating in a research report on Monday, December 11th. Loop Capital set a $4.00 price objective on Pier 1 Imports and gave the company a hold rating in a research report on Thursday, December 14th. Telsey Advisory Group restated a market perform rating on shares of Pier 1 Imports in a research report on Thursday, January 25th. Finally, Gordon Haskett cut Pier 1 Imports from a hold rating to a sell rating and set a $3.50 price objective for the company. in a research report on Thursday, December 14th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Pier 1 Imports has an average rating of Hold and a consensus target price of $4.78.
Pier 1 Imports (PIR) opened at $3.28 on Wednesday. Pier 1 Imports has a twelve month low of $2.87 and a twelve month high of $7.63. The stock has a market capitalization of $274.21, a P/E ratio of 11.71, a price-to-earnings-growth ratio of -5.44 and a beta of 1.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 0.61.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings data on Wednesday, December 13th. The specialty retailer reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $469.20 million during the quarter, compared to analysts’ expectations of $466.60 million. Pier 1 Imports had a net margin of 1.28% and a return on equity of 10.17%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. equities research analysts predict that Pier 1 Imports will post 0.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 8.54%. The ex-dividend date of this dividend was Tuesday, January 16th. Pier 1 Imports’s payout ratio is 100.00%.
In other news, major shareholder & Co Towle purchased 32,900 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $3.09 per share, for a total transaction of $101,661.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.58% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Pier 1 Imports by 13.1% during the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock worth $42,894,000 after purchasing an additional 959,886 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Pier 1 Imports by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock worth $37,105,000 after purchasing an additional 169,640 shares in the last quarter. BlackRock Inc. increased its position in shares of Pier 1 Imports by 0.5% during the fourth quarter. BlackRock Inc. now owns 5,600,050 shares of the specialty retailer’s stock worth $23,184,000 after purchasing an additional 26,539 shares in the last quarter. Towle & Co. increased its position in shares of Pier 1 Imports by 216.9% during the fourth quarter. Towle & Co. now owns 4,901,790 shares of the specialty retailer’s stock worth $20,293,000 after purchasing an additional 3,354,913 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pier 1 Imports by 4.9% during the second quarter. State Street Corp now owns 1,748,341 shares of the specialty retailer’s stock worth $9,074,000 after purchasing an additional 81,907 shares in the last quarter. Hedge funds and other institutional investors own 76.70% of the company’s stock.
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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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