Pier 1 Imports, Inc. (PIR) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Pier 1 Imports, Inc. (NYSE:PIR) from a hold rating to a sell rating in a research report released on Saturday.

A number of other equities analysts have also weighed in on PIR. Loop Capital decreased their target price on Pier 1 Imports from $10.00 to $8.00 and set a buy rating for the company in a research report on Wednesday. Jefferies Group LLC decreased their target price on Pier 1 Imports from $7.25 to $5.90 and set a hold rating for the company in a research report on Friday, June 30th. Telsey Advisory Group decreased their target price on Pier 1 Imports from $6.00 to $5.00 and set a market perform rating for the company in a research report on Thursday, June 29th. ValuEngine lowered Pier 1 Imports from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Gordon Haskett raised Pier 1 Imports from a reduce rating to a hold rating and set a $6.00 target price for the company in a research report on Tuesday, June 27th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $5.69.

Pier 1 Imports (PIR) traded up 2.81% during mid-day trading on Friday, reaching $4.39. 1,428,625 shares of the company were exchanged. The stock has a 50-day moving average price of $4.76 and a 200 day moving average price of $6.09. The company has a market capitalization of $355.94 million, a PE ratio of 10.95 and a beta of 1.70. Pier 1 Imports has a one year low of $3.73 and a one year high of $9.68.

Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $420.80 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. Pier 1 Imports’s revenue was down 2.1% on a year-over-year basis. Analysts predict that Pier 1 Imports will post $0.47 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, July 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.38%. Pier 1 Imports’s dividend payout ratio (DPR) is presently 68.29%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Pier 1 Imports by 13.1% in the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock worth $42,894,000 after buying an additional 959,886 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Pier 1 Imports by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock worth $37,105,000 after buying an additional 169,640 shares during the period. JPMorgan Chase & Co. increased its position in shares of Pier 1 Imports by 32.4% in the first quarter. JPMorgan Chase & Co. now owns 5,132,128 shares of the specialty retailer’s stock worth $36,745,000 after buying an additional 1,254,498 shares during the period. Acadian Asset Management LLC increased its position in shares of Pier 1 Imports by 199.2% in the first quarter. Acadian Asset Management LLC now owns 3,232,944 shares of the specialty retailer’s stock worth $23,149,000 after buying an additional 2,152,335 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Pier 1 Imports by 4.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,039,867 shares of the specialty retailer’s stock worth $10,588,000 after buying an additional 89,989 shares during the period. Institutional investors own 85.96% of the company’s stock.

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.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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