Pier 1 Imports Downgraded by Zacks to Underperform (PIR)
Pier 1 Imports (NYSE:PIR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday. They currently have a $14.60 price objective on the stock. Zacks‘s price objective indicates a potential downside of 5.13% from the stock’s previous close.
Pier 1 Imports (NYSE:PIR) traded down 0.26% during mid-day trading on Tuesday, hitting $15.35. The stock had a trading volume of 2,760,524 shares. 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 $17.52 and its 200-day moving average is $19.14. The company has a market cap of $1.441 billion and a P/E ratio of 15.56.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Thursday, June 19th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.15 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 1.56%. The ex-dividend date of this dividend is Monday, July 21st.
A number of other firms have also recently commented on PIR. Analysts at Morgan Stanley initiated coverage on shares of Pier 1 Imports in a research note on Tuesday. They set an “equal weight” rating and a $16.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Monday. Finally, analysts at Raymond James cut their price target on shares of Pier 1 Imports from $24.00 to $22.00 in a research note on Friday. They now have a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pier 1 Imports has an average rating of “Hold” and a consensus target price of $19.66.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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