Insider Selling: Pier 1 Imports General Counsel Unloads 18,000 Shares of Stock (PIR)
Pier 1 Imports (NYSE:PIR) General Counsel Michael A. Carter sold 18,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $20.48, for a total value of $368,640.00. Following the completion of the sale, the general counsel now directly owns 145,763 shares of the company’s stock, valued at approximately $2,985,226. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on PIR. 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 assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.44.
Shares of Pier 1 Imports (NYSE:PIR) traded down 0.93% on Friday, hitting $20.24. The stock had a trading volume of 1,525,848 shares. Pier 1 Imports has a 52-week low of $19.00 and a 52-week high of $25.29. The stock’s 50-day moving average is $21.79 and its 200-day moving average is $21.90. The company has a market cap of $2.091 billion and a P/E ratio of 17.11.
Pier 1 Imports (NYSE:PIR) last issued its quarterly 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 $1.12 EPS 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 1.19%. 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.
Pier 1 Imports, Inc (NYSE:PIR) is a specialty retailer of decorative home furnishings and gifts.
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