Pier 1 Imports, Inc. (NYSE:PIR) was upgraded by analysts at Gordon Haskett from a “reduce” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, June 27th, MarketBeat.com reports. The brokerage presently has a $6.00 price target on the specialty retailer’s stock. Gordon Haskett’s price objective would suggest a potential upside of 25.52% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Pier 1 Imports from a “strong-buy” rating to a “hold” rating in a report on Friday, March 17th. Citigroup Inc. began coverage on shares of Pier 1 Imports in a report on Friday, April 28th. They issued a “neutral” rating and a $7.00 price target on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Pier 1 Imports in a report on Thursday, April 13th. CIBC reaffirmed a “hold” rating on shares of Pier 1 Imports in a report on Monday, April 17th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Pier 1 Imports in a report on Thursday, March 16th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.83.
Pier 1 Imports (PIR) opened at 4.78 on Tuesday. The firm has a 50-day moving average price of $5.38 and a 200-day moving average price of $6.85. Pier 1 Imports has a 52 week low of $3.73 and a 52 week high of $9.68. The company has a market capitalization of $387.56 million, a price-to-earnings ratio of 11.92 and a beta of 1.72.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $409.50 million for the quarter, compared to analyst estimates of $420.80 million. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Analysts anticipate that Pier 1 Imports will post $0.47 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Alambic Investment Management L.P. bought a new stake in shares of Pier 1 Imports during the first quarter worth approximately $104,000. Jane Street Group LLC boosted its stake in shares of Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock worth $154,000 after buying an additional 4,853 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Pier 1 Imports during the fourth quarter worth approximately $188,000. Airain ltd bought a new stake in shares of Pier 1 Imports during the first quarter worth approximately $159,000. Finally, Teza Capital Management LLC bought a new stake in shares of Pier 1 Imports during the first quarter worth approximately $167,000. 87.32% of the stock is owned by institutional investors.
Pier 1 Imports Company Profile
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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