Hancock Holding Co. Purchases New Stake in Pier 1 Imports Inc. (PIR)
Hancock Holding Co. acquired a new position in shares of Pier 1 Imports Inc. (NYSE:PIR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 121,548 shares of the company’s stock, valued at approximately $625,000. Hancock Holding Co. owned approximately 0.15% of Pier 1 Imports at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PIR. Bayesian Capital Management LP acquired a new position in Pier 1 Imports during the first quarter worth approximately $118,000. Princeton Alpha Management LP acquired a new position in Pier 1 Imports during the second quarter worth approximately $143,000. Smith Asset Management Group LP acquired a new position in Pier 1 Imports during the second quarter worth approximately $155,000. Americafirst Capital Management LLC acquired a new position in Pier 1 Imports during the second quarter worth approximately $164,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Pier 1 Imports during the second quarter worth approximately $184,000. Institutional investors and hedge funds own 98.63% of the company’s stock.
Pier 1 Imports Inc. (NYSE:PIR) traded up 1.098% during trading on Tuesday, hitting $4.145. The stock had a trading volume of 1,418,788 shares. The stock has a market cap of $338.49 million, a PE ratio of 13.117 and a beta of 1.73. Pier 1 Imports Inc. has a 1-year low of $3.73 and a 1-year high of $9.11. The firm’s 50-day moving average price is $4.58 and its 200-day moving average price is $5.61.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02. Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. The business earned $418.40 million during the quarter. During the same period last year, the business earned $0.08 earnings per share. Pier 1 Imports’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Pier 1 Imports Inc. will post $0.27 earnings per share for the current fiscal year.
A number of research analysts have recently commented on PIR shares. Topeka Capital Markets started coverage on Pier 1 Imports in a report on Sunday, May 29th. They issued a “buy” rating and a $5.48 price objective on the stock. Raymond James Financial Inc. reiterated a “buy” rating and issued a $8.00 price objective (down previously from $9.00) on shares of Pier 1 Imports in a report on Thursday, June 30th. Nomura reiterated a “buy” rating and issued a $8.50 price objective on shares of Pier 1 Imports in a report on Thursday, September 8th. Credit Suisse Group AG reiterated a “hold” rating on shares of Pier 1 Imports in a report on Thursday, June 30th. Finally, Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $6.96.
Pier 1 Imports Company Profile
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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