Pier 1 Imports, Inc. (PIR) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Pier 1 Imports, Inc. (NYSE:PIR) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities analysts also recently 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 on the stock in a research report on Wednesday, August 9th. Jefferies Group LLC decreased their target price on Pier 1 Imports from $7.25 to $5.90 and set a hold rating on the stock 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 on the stock in a research report on Thursday, June 29th. ValuEngine downgraded Pier 1 Imports from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Gordon Haskett upgraded Pier 1 Imports from a reduce rating to a hold rating and set a $6.00 target price on the stock in a research report on Tuesday, June 27th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $5.69.

Pier 1 Imports (NYSE:PIR) opened at 4.03 on Friday. Pier 1 Imports has a 52-week low of $3.73 and a 52-week high of $9.68. The company has a market cap of $326.75 million, a P/E ratio of 10.05 and a beta of 1.70. The stock’s 50 day moving average price is $4.70 and its 200 day moving average price is $6.02.

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, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $409.50 million for the quarter, compared to the consensus estimate of $420.80 million. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. Analysts expect that Pier 1 Imports will post $0.47 earnings per share for the current 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 paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.28 annualized dividend and a yield of 6.95%. Pier 1 Imports’s dividend payout ratio (DPR) is 68.29%.

A number of large investors have recently bought and sold shares of the company. Verition Fund Management LLC boosted its stake in Pier 1 Imports by 493.4% in the second quarter. Verition Fund Management LLC now owns 83,269 shares of the specialty retailer’s stock valued at $432,000 after buying an additional 69,236 shares during the period. Sterling Capital Management LLC acquired a new stake in Pier 1 Imports during the second quarter valued at about $814,000. The Manufacturers Life Insurance Company boosted its stake in Pier 1 Imports by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 64,436 shares of the specialty retailer’s stock valued at $335,000 after buying an additional 326 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Pier 1 Imports by 106.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 72,900 shares of the specialty retailer’s stock valued at $378,000 after buying an additional 37,606 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Pier 1 Imports by 49.3% in the second quarter. Cubist Systematic Strategies LLC now owns 52,564 shares of the specialty retailer’s stock valued at $273,000 after buying an additional 17,359 shares during the period. 86.18% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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