Zacks Investment Research upgraded shares of Pier 1 Imports, Inc. (NYSE:PIR) from a sell rating to a hold rating in a report released on Wednesday, August 30th.
According to Zacks, “Pier 1 Imports, Inc. consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier, selling a wide variety of furniture, decorative home furnishings, dining and kitchen goods, accessories and other specialty items for the home. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The company supplies merchandise and licenses the Pier 1 name to Sears Mexico and Sears Puerto Rico. “
Other research analysts have also issued reports about the company. Telsey Advisory Group dropped their price objective on Pier 1 Imports from $6.00 to $5.00 and set a market perform rating for the company in a research note on Thursday, June 29th. Loop Capital dropped their price objective on Pier 1 Imports from $10.00 to $8.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Gordon Haskett assumed coverage on Pier 1 Imports in a research note on Tuesday, May 9th. They set a reduce rating and a $6.00 price objective for the company. Johnson Rice lowered Pier 1 Imports from an accumulate rating to a hold rating in a research note on Thursday, June 29th. Finally, BidaskClub lowered Pier 1 Imports from a hold rating to a sell rating in a research note on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $5.69.
Pier 1 Imports (PIR) opened at 5.20 on Wednesday. The firm’s 50-day moving average is $4.37 and its 200 day moving average is $5.60. Pier 1 Imports has a 12 month low of $3.96 and a 12 month high of $9.68. The stock has a market capitalization of $421.62 million, a P/E ratio of 12.97 and a beta of 1.69.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The firm had revenue of $409.50 million during the quarter, compared to analysts’ expectations of $420.80 million. During the same period last year, the business earned ($0.07) earnings per share. Pier 1 Imports’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Pier 1 Imports will post $0.47 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC bought a new position in shares of Pier 1 Imports during the 2nd quarter valued at about $103,000. Alambic Investment Management L.P. bought a new position in shares of Pier 1 Imports during the 1st quarter valued at about $104,000. Jane Street Group LLC lifted its holdings in shares of Pier 1 Imports by 29.0% during the 1st quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after purchasing an additional 4,853 shares in the last quarter. Airain ltd bought a new position in shares of Pier 1 Imports during the 1st quarter valued at about $159,000. Finally, Teza Capital Management LLC bought a new position in shares of Pier 1 Imports during the 1st quarter valued at about $167,000. Institutional investors and hedge funds own 82.79% of the company’s stock.
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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