Insider Selling: Charles H. Turner Unloads 2,500 Shares of Pier 1 Imports Stock (PIR)
Pier 1 Imports (NYSE:PIR) CFO Charles H. Turner sold 2,500 shares of the company’s stock on the open market in a transaction dated Thursday, May 1st. The shares were sold at an average price of $18.29, for a total transaction of $45,725.00. Following the completion of the sale, the chief financial officer now directly owns 224,073 shares of the company’s stock, valued at approximately $4,098,295. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Pier 1 Imports (NYSE:PIR) traded up 0.11% during mid-day trading on Thursday, hitting $18.28. The stock had a trading volume of 1,271,340 shares. Pier 1 Imports has a 52-week low of $17.32 and a 52-week high of $25.29. The stock’s 50-day moving average is $18.5 and its 200-day moving average is $20.15. The company has a market cap of $1.854 billion and a P/E ratio of 18.08.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Thursday, April 10th. The company reported $0.41 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.60 earnings per share. Pier 1 Imports’s revenue was down 6.5% compared to the same quarter last year. Analysts expect that Pier 1 Imports will post $1.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 7th. Shareholders 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 1.31%. The ex-dividend date of this dividend is Monday, April 21st.
A number of research firms have recently commented on PIR. Analysts at Zacks upgraded shares of Pier 1 Imports from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $18.60 price target on the stock. Separately, analysts at Barclays upgraded shares of Pier 1 Imports from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, April 15th. They now have a $23.00 price target on the stock, up previously from $19.00. Finally, analysts at Raymond James cut their price target on shares of Pier 1 Imports from $27.00 to $24.00 in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $19.76.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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