Pier 1 Imports, Inc. (PIR) Trading Down 2.7%

Pier 1 Imports, Inc. (NYSE:PIR) shares were down 2.7% during mid-day trading on Tuesday . The stock traded as low as $4.70 and last traded at $4.59. Approximately 848,584 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,799,450 shares. The stock had previously closed at $4.71.

Several research analysts recently issued reports on PIR shares. Loop Capital reiterated a “buy” rating and issued a $10.00 target price (down from $12.00) on shares of Pier 1 Imports in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Friday. Gordon Haskett upgraded shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price for the company in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $7.25 target price on shares of Pier 1 Imports in a research report on Friday, June 23rd. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Pier 1 Imports presently has an average rating of “Hold” and a consensus target price of $5.69.

The stock has a market capitalization of $366.48 million, a PE ratio of 11.27 and a beta of 1.69. The company’s 50-day moving average is $4.37 and its 200 day moving average is $5.56.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The business had revenue of $409.50 million during the quarter, compared to analysts’ expectations of $420.80 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, analysts predict that Pier 1 Imports, Inc. will post $0.47 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in PIR. Teachers Advisors LLC boosted its stake in shares of Pier 1 Imports by 2.2% during the 4th quarter. Teachers Advisors LLC now owns 144,178 shares of the specialty retailer’s stock worth $1,231,000 after purchasing an additional 3,130 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Pier 1 Imports by 321.8% during the 1st quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock worth $1,972,000 after purchasing an additional 210,090 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Pier 1 Imports during the 1st quarter worth about $177,000. Russell Investments Group Ltd. boosted its stake in shares of Pier 1 Imports by 132.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,116,100 shares of the specialty retailer’s stock worth $7,991,000 after purchasing an additional 635,438 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Pier 1 Imports by 20.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 87,047 shares of the specialty retailer’s stock worth $623,000 after purchasing an additional 14,973 shares during the period. 82.76% of the stock is owned by hedge funds and other institutional investors.

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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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