Pier 1 Imports Given New $24.00 Price Target at Raymond James (PIR)
Equities researchers at Raymond James lowered their price target on shares of Pier 1 Imports (NYSE:PIR) from $27.00 to $24.00 in a research report issued on Friday, AmericanBankingNews.com reports. Raymond James’ price objective suggests a potential upside of 33.63% from the company’s current price.
In other Pier 1 Imports news, CFO Charles Turner sold 2,500 shares of the stock on the open market in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.91, for a total value of $47,275.00. Following the completion of the sale, the chief financial officer now directly owns 203,281 shares in the company, valued at approximately $3,844,044. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PIR has been the subject of a number of other recent research reports. Analysts at Wedbush cut their price target on shares of Pier 1 Imports from $22.00 to $21.00 in a research note on Friday. Separately, analysts at Argus reiterated a “buy” rating on shares of Pier 1 Imports in a research note on Friday. They now have a $23.00 price target on the stock, down previously from $25.00. Finally, analysts at SunTrust cut their price target on shares of Pier 1 Imports from $24.00 to $21.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.16.
Shares of Pier 1 Imports (NYSE:PIR) traded down 2.31% on Friday, hitting $17.78. The stock had a trading volume of 2,949,481 shares. Pier 1 Imports has a 1-year low of $17.32 and a 1-year high of $25.29. The stock’s 50-day moving average is $19.02 and its 200-day moving average is $20.3. The company has a market cap of $1.837 billion and a price-to-earnings ratio of 15.24.
Pier 1 Imports (NYSE:PIR) last released its earnings data on Thursday, April 10th. The company reported $0.41 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.41. The company had revenue of $515.80 million for the quarter, compared to the consensus estimate of $512.76 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Monday, April 21st.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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