Towle & Co. purchased a new position in Pier 1 Imports, Inc. (NYSE:PIR) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,546,877 shares of the specialty retailer’s stock, valued at approximately $6,481,000. Towle & Co. owned 1.85% of Pier 1 Imports at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Aperio Group LLC acquired a new stake in Pier 1 Imports during the second quarter valued at approximately $103,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Pier 1 Imports during the third quarter valued at approximately $172,000. Eagle Global Advisors LLC acquired a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $175,000. SG Americas Securities LLC acquired a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $178,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Pier 1 Imports by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock valued at $194,000 after acquiring an additional 1,583 shares during the period. 80.83% of the stock is owned by institutional investors.
Pier 1 Imports, Inc. (NYSE:PIR) traded up $0.08 during midday trading on Friday, reaching $4.39. The company had a trading volume of 1,026,600 shares, compared to its average volume of 1,337,358. Pier 1 Imports, Inc. has a twelve month low of $3.96 and a twelve month high of $9.67. The stock has a market cap of $367.84, a price-to-earnings ratio of 9.34, a P/E/G ratio of -10.33 and a beta of 1.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.23 and a quick ratio of 0.43.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The company had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. Pier 1 Imports’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. research analysts anticipate that Pier 1 Imports, Inc. will post 0.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.38%. Pier 1 Imports’s dividend payout ratio (DPR) is presently 77.78%.
PIR has been the topic of several research reports. BidaskClub upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Loop Capital decreased their target price on shares of Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. ValuEngine downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $5.90 price target on shares of Pier 1 Imports in a report on Sunday, September 3rd. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.01.
About Pier 1 Imports
Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.
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