Oppenheimer Lowers Pier 1 Imports Price Target to $19.00 (PIR)
Equities researchers at Oppenheimer reduced their price target on shares of Pier 1 Imports (NYSE:PIR) from $22.00 to $19.00 in a research report issued on Thursday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 24.26% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Pier 1 Imports in a research note on Friday, July 25th. They now have a $18.00 price target on the stock, down previously from $23.00. Separately, analysts at Nomura initiated coverage on shares of Pier 1 Imports in a research note on Wednesday, July 16th. They set a “buy” rating and a $22.00 price target on the stock. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Pier 1 Imports has an average rating of “Buy” and a consensus price target of $19.82.
In other Pier 1 Imports news, CFO Charles H. Turner sold 3,000 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $15.53, for a total value of $46,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Pier 1 Imports (NYSE:PIR) traded up 0.07% on Thursday, hitting $15.30. The stock had a trading volume of 452,405 shares. Pier 1 Imports has a 52 week low of $14.78 and a 52 week high of $23.98. The stock has a 50-day moving average of $15.31 and a 200-day moving average of $17.56. The company has a market cap of $1.448 billion and a P/E ratio of 15.46.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Thursday, June 19th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.19 earnings per share. Pier 1 Imports’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that Pier 1 Imports will post $1.13 EPS for the current fiscal year.
Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.
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