Pier 1 Imports (PIR) Cut to “Hold” at ValuEngine

Pier 1 Imports (NYSE:PIR) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James lowered shares of Pier 1 Imports from a “market perform” rating to an “underperform” rating in a report on Monday. Morgan Stanley cut their price objective on shares of Pier 1 Imports from $3.50 to $2.25 and set an “underweight” rating on the stock in a report on Friday. Telsey Advisory Group cut their price objective on shares of Pier 1 Imports from $4.00 to $3.50 and set a “market perform” rating on the stock in a report on Friday. Finally, Loop Capital cut their price objective on shares of Pier 1 Imports from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, April 19th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $4.04.

Shares of PIR stock traded up $0.03 during trading hours on Tuesday, reaching $2.41. 2,582,149 shares of the company were exchanged, compared to its average volume of 1,832,897. Pier 1 Imports has a fifty-two week low of $2.37 and a fifty-two week high of $7.22. The firm has a market capitalization of $220.04, a price-to-earnings ratio of 11.48, a PEG ratio of -6.29 and a beta of 1.46. The company has a current ratio of 2.34, a quick ratio of 0.87 and a debt-to-equity ratio of 0.71.

Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, April 18th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. Pier 1 Imports had a net margin of 0.65% and a return on equity of 6.17%. The company had revenue of $512.23 million for the quarter, compared to analyst estimates of $537.62 million. During the same period in the prior year, the business earned $0.34 earnings per share. Pier 1 Imports’s quarterly revenue was down 3.1% on a year-over-year basis. equities research analysts forecast that Pier 1 Imports will post 0.14 earnings per share for the current fiscal year.

In other news, major shareholder & Co Towle bought 32,900 shares of the business’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $3.09 per share, for a total transaction of $101,661.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 45,705 shares of company stock worth $142,468. Company insiders own 5.45% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Paradigm Capital Management Inc. NY raised its holdings in Pier 1 Imports by 1,260.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 557,700 shares of the specialty retailer’s stock worth $2,309,000 after purchasing an additional 516,700 shares during the period. Wells Fargo & Company MN increased its position in shares of Pier 1 Imports by 47.1% during the third quarter. Wells Fargo & Company MN now owns 106,188 shares of the specialty retailer’s stock worth $444,000 after acquiring an additional 34,010 shares in the last quarter. AXA increased its position in shares of Pier 1 Imports by 68.1% during the fourth quarter. AXA now owns 491,800 shares of the specialty retailer’s stock worth $2,036,000 after acquiring an additional 199,200 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in shares of Pier 1 Imports during the fourth quarter worth $681,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Pier 1 Imports during the fourth quarter worth $453,000. Institutional investors own 77.79% 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.

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Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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