Insider Selling: John H. Burgoyne Unloads 12,000 Shares of Pier 1 Imports Stock (PIR)
Pier 1 Imports (NYSE:PIR) Director John H. Burgoyne unloaded 12,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $20.39, for a total value of $244,680.00. Following the completion of the sale, the director now directly owns 260,786 shares in the company, valued at approximately $5,317,427. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Pier 1 Imports (NYSE:PIR) traded up 1.22% on Wednesday, hitting $20.72. The stock had a trading volume of 1,743,339 shares. Pier 1 Imports has a one year low of $19.00 and a one year high of $25.29. The stock has a 50-day moving average of $21.90 and a 200-day moving average of $21.92. The company has a market cap of $2.141 billion and a price-to-earnings ratio of 17.14.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.26 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.25 earnings per share. Pier 1 Imports’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Pier 1 Imports will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of 0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from Pier 1 Imports’s previous quarterly dividend of $0.05.
PIR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday. They now have a $19.40 price target on the stock. Separately, analysts at Jefferson Research upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note to investors on Friday, January 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.44.
Pier 1 Imports, Inc (NYSE:PIR) is a specialty retailer of decorative home furnishings and gifts.
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