Raymond James Lowers Pier 1 Imports Price Target to $22.00 (PIR)
Analysts at Raymond James lowered their price target on shares of Pier 1 Imports (NYSE:PIR) from $24.00 to $22.00 in a research report issued to clients and investors on Friday. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 44.93% from the stock’s previous close.
Pier 1 Imports (NYSE:PIR) traded down 4.29% on Friday, hitting $15.18. 9,473,828 shares of the company’s stock traded hands. Pier 1 Imports has a 52 week low of $15.00 and a 52 week high of $24.58. The stock’s 50-day moving average is $17.61 and its 200-day moving average is $19.20. The company has a market cap of $1.471 billion and a price-to-earnings ratio of 15.70.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Thursday, June 19th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.04. The company had revenue of $419.10 million for the quarter, compared to the consensus estimate of $422.43 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 6th. Stockholders of record on Wednesday, July 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 1.58%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush cut their price target on shares of Pier 1 Imports from $21.00 to $20.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at SunTrust cut their price target on shares of Pier 1 Imports from $20.00 to $18.00 in a research note on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Argus cut their price target on shares of Pier 1 Imports from $23.00 to $21.00 in a research note on Friday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.51.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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