Insider Selling: Sharon M. Leite Sells 17,000 Shares of Pier 1 Imports Stock (PIR)
Pier 1 Imports (NYSE:PIR) EVP Sharon M. Leite unloaded 17,000 shares of Pier 1 Imports stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $18.22, for a total value of $309,740.00. Following the completion of the sale, the executive vice president now directly owns 101,044 shares of the company’s stock, valued at approximately $1,841,022. 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. 1,271,340 shares of the company’s stock traded hands. Pier 1 Imports has a one year low of $17.32 and a one year 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 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 $1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, April 21st.
PIR has been the subject of a number of recent research reports. 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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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