Pier 1 Imports Inc. (PIR) Stock Trending Up After Price Target Increase at Telsey Advisory Group

Pier 1 Imports Inc. (NYSE: PIR) shares rose on Thursday Dec 15 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.

Pier 1 Imports Inc. (NYSE: PIR) had its price target raised by equities researchers at Telsey Advisory Group from $5.50 to $7.00. With a rating of Market Perform on the shares, Pier 1 Imports Inc. has a 52-week high of $8.59. A number of other analysts have commented on the stock recently, and Pier 1 Imports Inc. has earned a consensus one-year price target of $4.55, a decrease compared to the opening price of $7.97.

Pier 1 Imports Inc. (NYSE: PIR) shares last traded at $8.48, which is a spike of $2.00 or 30.86% over the previous closing price. Opening at $7.97, they varied from $7.82 and $8.59 throughout the day.

Pier 1 Imports Inc. (NYSE: PIR) currently has a market cap of 682.10M.

Pier 1 Imports Inc. (NYSE: PIR) Average Daily Trading Volume

6,782,295 shares crossed the trading desk yesterday, higher than the norm, out of a total float 64,411,000. Large increases in trading volume and price inflation together could indicate heavy volume aggregation by institutional investors.

As with all possible breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re researching.

Pier 1 Imports Inc. (NYSE: PIR) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

Trades for Pier 1 Imports Inc. (NYSE: PIR) have ranged from $3.73 – 8.59, and the stock now has a 50-day MA of $5.51 and 200-day MA of $5.01. Today’s last price is 1.28%% lower than the 52 week high of $8.59.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.

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