|Bid||0.0000 x 1100|
|Ask||0.0000 x 800|
|Day's Range||3.8600 - 4.7200|
|52 Week Range||3.0400 - 42.0000|
|Beta (3Y Monthly)||5.09|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 1, 2019 - Oct 7, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.00|
The U.S. Court of Appeals for the Fifth Circuit ended a significant shareholder action against Pier 1 Imports Monday, not with a bang, but a quote from Coco Chanel.
Lumber Liquidators Holdings Inc. said late Monday that Nancy A. Walsh has been named its chief financial officer, effective Sept. 9. Walsh replaces interim CFO Timothy Mulvaney, who will return to his role as chief accounting officer. Walsh most recently served as Pier 1 Imports Inc. CFO, and also held positions at other retailers. Lumber Liquidators announced the resignation of its previous CFO, Martin Agard, in March. The company was fined earlier that month by the Securities and Exchange Commission for lying to investors in connection with emissions issues with some of its flooring products.
[Editor's note: "5 Cheap Stocks to Buy That Are $6 or Less" was originally published in May 2019. It has since been updated to include the most relevant information available.]The stock market's volatility at the start of 2019 didn't make me any less bullish on stocks, and that mentality has paid off -- the Dow Jones is up 10% year-to-date. And my penny stock picks? While some are down from their first-quarter peaks, most of them remain considerably higher on a YTD basis.Among these stocks, market movements can cause some noise. But the investment thesis on cheap stocks to buy is predicated on huge moves higher in the long-term. Thus, in the near-term, macro-driven movements amount to nothing more than a sideshow.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFrom this perspective, now might be a good time to pile into some stocks under $6. These stocks to buy are a high-risk bunch. But they do have high-reward potential, too. * 10 Cheap Dividend Stocks to Load Up On With that in mind, here is a list of five of the best penny stocks to buy that I think have more upside potential to ride the market's bullishness. Pier 1 (PIR)PIR stock price: $3.36 Year-to-date: -45%Furniture retailer Pier 1 Imports (NYSE:PIR) has had a tough time getting its act together for several years. PIR stock has collapsed over the past year. These problems aren't new. Over the past five years, this stock has lost more than 90% of its value.Source: Shutterstock Having said that, there is visibility for a turnaround in PIR stock in the near future.At its core, Pier 1 has been killed by rising e-commerce threats creating huge pricing and traffic headwinds. Pier 1, which stands somewhat square in the middle of price and quality, doesn't really have anything special about the business to protect against these headwinds. Consequently, sales and margins have dropped in a big way.But, the company has a three-year strategic plan to turn the business around. The plan includes bigger investments in omnichannel commerce capabilities and marketing.No one knows whether this plan will actually work. But home furnishings is a market with enduring demand, so that helps.Meanwhile, PIR stock is dirt cheap. At 50 cents per share in earnings power, it wouldn't be unreasonable to see this stock hit $8 (a market-average 16x multiple). Groupon (GRPN)GRPN stock price: $2.32 Year-to-date: -28%Much like Pier 1, savings-king Groupon (NASDAQ:GRPN) feels like one of those companies that were loved yesterday but will be forgotten tomorrow. But I don't think that's true. I get that the savings and deals market is commoditized now. I also understand that Groupon really isn't a household name for coupons like it used to be.Source: Shutterstock But I'm a numbers guy. And Groupon's numbers are pretty good. Its margins are improving thanks to management's focus on higher-margin businesses.Operating expenses are also being removed from the system, so the company's overall profitability profile is improving.Aside from the numbers, Groupon launched an aggressive advertising campaign last year with hyper-relevant Tiffany Haddish that scored just shy of 100 million views. I think this campaign will have a long-term positive effect on usage, which could drive the stock higher. * 10 Stocks Under $5 to Buy for Fall Put it all together, and it looks like GRPN stock could have a big-time rally in 2020. Zynga (ZNGA)ZNGA stock price: $5.55 Year-to-date: 46%I'm not a huge fan of the mobile gaming sector. It's a tough space plagued with competition and low margins. Plus, competition is only building thanks to social media apps becoming increasingly multi-purpose.Source: Shutterstock But mobile gaming company Zynga (NASDAQ:ZNGA) seems to have found the key to success in the mobile gaming world.Zynga used to be a mega-popular browser game company with tons of users. But then the company overreached by branching into games that had heavy overlap with the traditional video game market, like sports titles. They couldn't compete in that market. Eventually, the over-extension sparked user churn, and ZNGA stock spiraled downward.That forced Zynga to re-invent itself into something much more relevant and defensible. They did just that. Zynga has transitioned its business model from web-focused to mobile-first while narrowing its gaming title focus. This pivot has streamlined operations, re-invigorated top-line growth, cut costs and improved profitability.From where I sit, this pivot appears to be in its early stages. Mobile is a secular growth narrative, and ZNGA has developed a gaming portfolio that is focused and tailored to that growth narrative. Thus, so long as mobile engagement heads higher, Zynga's numbers should get better. Better numbers will inevitably lead to a higher stock price. Arotech (ARTX)ARTX stock price: $2.24 Year-to-date: -15.4%There is no hiding the fact that the defense sector has been hot under President Donald Trump. Trump came into office, upped the ante on defense and military spending, and in response, the whole world is spending more on defense and military.Source: arotech.com Defense contractors win when this happens. That is why mega-cap defense contractors like Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) have been on fire for the past several quarters. But one micro-cap defense contractor that has missed out on this rally is Arotech (NASDAQ:ARTX).Over the past several years, the financials at Arotech haven't gained any ground. Five years ago, its revenues were $103.5 million and its net income was $3.5 million. In 2017, its revenues were $98.7 million and its net income was $3.8 million.In other words, its profits haven't risen much in five years. When profits don't go up, the stock tends not to go up. It is a simple relationship. But its profits are stabilizing. When profits go from declining to stabilizing, they usually go to growth next. * 15 Growth Stocks to Buy for the Long Haul And, when profits go up, stocks tend to go up. As such, it looks like Arotech is finally joining the tide when it comes to big boosts in defense and military spending. This tide will inevitably lift Arotech's earnings power substantially, and ARTX will rally as a result. Blink Charging (BLNK)BLNK stock price: $2.60 Year-to-date: 100%When it comes to cheap stocks, there are few as volatile as Blink Charging (NASDAQ:BLNK).Source: Shutterstock Over the past two years, BLNK stock has gone from $10 to $3, and popped from $4.50 to $8; it now sits at a paltry $2.60. This volatility won't give up any time soon. Thus, if you want to avoid volatility, I'd normally say avoid BLNK stock …That being said, if this company's secular growth narrative surrounding building a network of electric vehicle charging stations globally materializes within the next five years, this stock could be a 5- or even 10-bagger.It is a big risk. But, eventually, global infrastructure will need to match demand. At that point in time, there will be some huge contracts awarded to electric vehicle charging station companies.Will Blink be one of them? Perhaps. Tough to tell. But if they do land some big contracts, this stock could have another huge pop in a short amount of time.As of this writing, Luke Lango was long FB, PIR, GRPN and ARTX. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Safe Stocks to Buy This Summer * The 5 Best Telecom Stocks to Buy Now * 6 Innovative Stocks With Big Long-Term Growth Potential The post 5 Cheap Stocks to Buy That Are $6 or Less appeared first on InvestorPlace.
Embattled retailers J.C. Penney and Pier 1 Imports are at risk of being delisted from the New York Stock Exchange, both companies announced.
Pier 1 Imports, Inc. (PIR) (the “Company”) today announced that on August 5, 2019, it received notice (the “Notice”) from the New York Stock Exchange (NYSE) that it is no longer in compliance with NYSE continued listing standards set forth in Section 802.01B of the NYSE’s Listed Company Manual due to the fact that the Company’s average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its shareholders’ equity was less than $50 million. As set forth in the Notice, as of August 2, 2019, the 30 trading-day average global market capitalization of the Company was approximately $25 million and the Company’s last reported shareholders’ equity as of June 1, 2019 was $9.2 million.
Investors love a turnaround play, and Wall Street is littered with stories of fortunes made betting on troubled companies.In the 1960s, American Express (AXP) was rumored to be near bankruptcy when Warren Buffett famously entered what is now one of his favorite Berkshire Hathaway positions. Apple (AAPL), which became the first U.S. company to hit $1 trillion in market value, absorbed more than a decade of losses during the 1980s and '90s before Steve Jobs helped turn the company around - aided by a $150 million investment from Microsoft (MSFT).But while every beat-up stock is a potential turnaround play, not every company achieves that potential. And losses can mount quickly for a stock that's already up against the ropes. So while you might be tempted to dabble in a potential comeback story or two, beware of some of the most common traps that end in disaster.Sometimes the issue is too much debt; rising interest costs and balloon payments can turn minor business setbacks into major liquidity challenges. Other times, once-powerful consumer brands are brought to their knees by management that's too slow to adapt to evolving consumer tastes.Certain areas of the market can be particularly prone to disasters. Start-up biotech stocks are risky because they're racing against the clock to bring new drugs to market before their cash runs out. Disappointing clinical trial result, in these cases, can cut a stock's value in half (or worse) within days. Chinese stocks are problematic, too, because of sometimes poor visibility and weak corporate governance.Here are 13 stocks to sell if you own them, or avoid if you're on the hunt for the next turnaround story. The companies themselves aren't necessarily an extinction threat, but for varying reasons, they're all on the brink of delivering more disastrous returns. SEE ALSO: Beware the Risks in These 13 Blue-Chip Stocks
Pier 1 Imports Inc. said Friday that it has named two new executives, both to assume their roles on July 22. Douglas Diemoz will become president, a newly-created position responsible for day-to-day operations at the ailing home retailer, including global supply chain, information technology and human resources. He was most recently chief executive of Crate & Barrel. Pier 1 is creating an office of the chief executive officer that will be led by Cheryl Bachelder, the company's interim CEO, and will include Diemoz and others. The office will supervise and direct the company's strategy, including its previously announced evaluation of strategic alternatives. Robert Riesbeck will become chief financial officer, succeeding Deborah Rieger-Paganis, who has served in the role on an interim basis since April. He was most recently CFO of FullBeauty brands. Pier 1 stock has plummeted more than 37% this week, and is down 71.2% for the past month. The company announced a 1-for-20 reverse stock split in late June. The S&P 500 index is up 2.4% for the past month.
Pier 1 Imports Inc. announced Friday that it has named a new chief financial officer, in addition to creating the role of president and the Office of the Chief Executive Officer.
Pier 1 Imports, Inc. (PIR) today announced the appointment of Douglas Diemoz to the newly created role of President and Robert Riesbeck as Executive Vice President and Chief Financial Officer, both effective July 22, 2019. Mr. Riesbeck succeeds Deborah Rieger-Paganis, who has served as Interim Chief Financial Officer since April 2019.
Shares of home-decor retailer Pier 1 closed lower on Friday. The company made two new senior executive appointments to help it stanch declining sales.
Francesca's Holdings shares rebounded Wednesday after it disclosed in an SEC filing that Cross River Capital Management has a 20% stake in the specialty retailer. Francesca Holdings shares ended up 38 cents, or 11%, at $3.77. On Tuesday, the stock fell sharply, along with that of fellow specialty retailer Pier 1 Imports.
Shares in Pier 1 Imports and Francesca's Holdings fell sharply today, indicating the market has lost faith in the struggling retailers' turnaround plans.
Pier 1 Imports Inc. said it would close 12 stores more than indicated during its previous earnings report in April during fiscal 2020, for a total of 57 stores. About 15% to 20% of the company's leases are up each year, according to Cheryl Bachelder, interim chief executive of the home furnishings retailer, and store optimization is one of the "areas of opportunity" that she laid out during the fiscal first-quarter earnings call. The company reported a fiscal first-quarter loss of $19.97 per share compared with the FactSet guidance for an $11.50-per-share loss. Sales were down 15.5% to $314.3 million, also below the FactSet expectation for $330.0 million. Same-store sales fell 13.5%. "Given the trends in the business, and its negative EPS, EBITDA [earnings before interest, tax, depreciation and amortization] and FCF [free cash flow], we see Pier 1 as potentially at risk of needing liquidation if trends don't improve," KeyBanc Capital Markets wrote in its most recent note. Analysts made similar remarks previously. Pier 1 completed a 1-for-20 reverse stock split on June 20. Shares are down more than 30% for the week, but have gained 29.2% for the year to date. The S&P 500 index has gained 17% for 2019 so far.
Pier 1 said same-store sales in the first quarter tumbled 13.5%. The CEO added that if Pier 1 doesn't see a turnaround more stores closings could follow. "If we are unable to achieve our performance goals, sales targets and reductions in occupancies and other costs, we could close up to 15% of our portfolio," she said.
Pier 1 Imports Inc. shares were down 16% in after-hours trading Wednesday after the retailer reported fiscal-first quarter earnings. Pier 1 reported a net loss of $81.7 million, or $19.97 a share, compared with a loss of $28.5 million, or $7.11 a share, a year earlier. The company completed a 1-for-20 reverse stock split on June 20. Net sales for the quarter fell to $314 million from $371 million in the year-earlier period. Analysts surveyed by FactSet expected $330 million in revenue. The company posted a 13.5% drop in comparable-store sales compared with a year prior. Pier 1 shares have gained 44% so far this year, as the S&P 500 has risen 16%.
NEW YORK, NY / ACCESSWIRE / June 26, 2019 / Pier 1 Imports, Inc. (NYSE: PIR ) will be discussing their earnings results in their 2020 First Quarter Earnings to be held on June, 26 2019 at 5:00 PM Eastern ...