Pier 1 Imports CFO Unloads $38,550 in Stock (PIR)
Pier 1 Imports (NYSE:PIR) CFO Charles H. Turner unloaded 2,500 shares of Pier 1 Imports stock on the open market in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $15.42, for a total value of $38,550.00. Following the completion of the transaction, the chief financial officer now directly owns 220,450 shares in the company, valued at approximately $3,399,339. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Pier 1 Imports (NYSE:PIR) traded up 2.22% during mid-day trading on Thursday, hitting $15.65. The stock had a trading volume of 680,278 shares. Pier 1 Imports has a 52-week low of $15.00 and a 52-week high of $24.58. The stock has a 50-day moving average of $17.01 and a 200-day moving average of $18.84. The company has a market cap of $1.481 billion and a price-to-earnings ratio of 15.48.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data 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 $1.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 6th. Investors 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 1.57%. The ex-dividend date of this dividend is Monday, July 21st.
A number of research firms have recently commented on PIR. Analysts at Zacks downgraded shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 24th. They now have a $14.60 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Pier 1 Imports in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $16.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Pier 1 Imports presently has a consensus rating of “Hold” and an average 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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