Pier 1 Imports Upgraded to “Buy” at Jefferson Research (PIR)
Pier 1 Imports (NYSE:PIR) was upgraded by Jefferson Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Analyst Ratings.Net reports.
Several other analysts have also recently commented on the stock. Analysts at SunTrust initiated coverage on shares of Pier 1 Imports in a research note to investors on Friday, December 13th. They set a “neutral” rating and a $0.10 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note to investors on Monday, December 9th. Finally, analysts at Argus reiterated a “buy” rating on shares of Pier 1 Imports in a research note to investors on Thursday, October 17th. They now have a $20.15 price target on the stock, down previously from $26.00. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.94.
Shares of Pier 1 Imports (NYSE:PIR) traded up 5.77% during mid-day trading on Friday, hitting $21.62. The stock had a trading volume of 2,296,093 shares. Pier 1 Imports has a 52-week low of $19.00 and a 52-week high of $25.29. The stock has a 50-day moving average of $22.02 and a 200-day moving average of $22.00. The company has a market cap of $2.234 billion and a P/E ratio of 17.12.
Pier 1 Imports (NYSE:PIR) last released its earnings data on Thursday, December 19th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.02. The company had revenue of $465.46 million for the quarter, compared to the consensus estimate of $462.14 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a dividend of 0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, January 17th. This is a boost from Pier 1 Imports’s previous quarterly dividend of $0.05.
Pier 1 Imports, Inc (NYSE:PIR) is a specialty retailer of decorative home furnishings and gifts.
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