Loop Capital Cuts Pier 1 Imports (PIR) Price Target to $3.00

Pier 1 Imports (NYSE:PIR) had its price target decreased by investment analysts at Loop Capital from $4.00 to $3.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “hold” rating on the specialty retailer’s stock. Loop Capital’s price objective would suggest a potential upside of 9.89% from the stock’s current price.

PIR has been the topic of several other reports. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Wedbush reissued a “neutral” rating on shares of Pier 1 Imports in a research note on Monday. Vetr lowered Pier 1 Imports from a “strong-buy” rating to a “buy” rating and set a $3.79 price target on the stock. in a research note on Thursday, April 5th. Finally, Telsey Advisory Group reissued a “market perform” rating on shares of Pier 1 Imports in a research note on Thursday, January 25th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Pier 1 Imports currently has an average rating of “Hold” and a consensus price target of $4.39.

PIR traded down $0.73 during trading on Thursday, hitting $2.73. The company’s stock had a trading volume of 7,472,623 shares, compared to its average volume of 1,730,211. Pier 1 Imports has a twelve month low of $2.69 and a twelve month high of $7.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 2.14. The firm has a market cap of $297.55, a PE ratio of 6.20, a price-to-earnings-growth ratio of -5.85 and a beta of 1.47.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, April 18th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Pier 1 Imports had a return on equity of 10.17% and a net margin of 1.28%. The firm had revenue of $512.23 million for the quarter, compared to analyst estimates of $537.62 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. research analysts predict that Pier 1 Imports will post 0.18 EPS for the current fiscal year.

In other news, major shareholder & Co Towle bought 32,900 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $3.09 per share, with a total value of $101,661.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 45,705 shares of company stock worth $142,468 over the last ninety days. 5.58% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new position in Pier 1 Imports in the 4th quarter valued at $109,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Pier 1 Imports in the 4th quarter valued at about $133,000. Virtu Financial LLC raised its holdings in shares of Pier 1 Imports by 174.6% during the 4th quarter. Virtu Financial LLC now owns 61,834 shares of the specialty retailer’s stock valued at $256,000 after buying an additional 39,315 shares in the last quarter. Algert Global LLC purchased a new position in shares of Pier 1 Imports during the 4th quarter valued at about $281,000. Finally, Advisor Group Inc. raised its holdings in shares of Pier 1 Imports by 2,890.0% during the 4th quarter. Advisor Group Inc. now owns 79,924 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 77,251 shares in the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

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About Pier 1 Imports

Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.

The Fly

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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