Pier 1 Imports, Inc. (NYSE:PIR) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Other research analysts also recently issued reports about the company. Loop Capital reaffirmed a “buy” rating and issued a $10.00 price target (down from $12.00) on shares of Pier 1 Imports in a research report on Thursday, June 29th. Zacks Investment Research raised Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday, June 28th. Gordon Haskett raised Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 price target on the stock in a research report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.25 price target on shares of Pier 1 Imports in a research report on Friday, June 23rd. Finally, Johnson Rice downgraded Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research report on Thursday, June 29th. Six equities 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 stock. Pier 1 Imports presently has a consensus rating of “Hold” and a consensus target price of $5.69.
Pier 1 Imports (NYSE PIR) opened at 5.20 on Friday. Pier 1 Imports has a 1-year low of $3.96 and a 1-year high of $9.68. The stock’s 50 day moving average price is $4.37 and its 200 day moving average price is $5.60. The stock has a market capitalization of $421.62 million, a PE ratio of 12.97 and a beta of 1.69.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $409.50 million for the quarter, compared to the consensus estimate of $420.80 million. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. Equities research analysts forecast that Pier 1 Imports will post $0.47 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in PIR. Aperio Group LLC acquired a new stake in Pier 1 Imports in the 2nd quarter valued at $103,000. Alambic Investment Management L.P. acquired a new stake in Pier 1 Imports in the 1st quarter valued at $104,000. Jane Street Group LLC boosted its stake in Pier 1 Imports by 29.0% in the 1st quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after buying an additional 4,853 shares in the last quarter. Airain ltd acquired a new stake in Pier 1 Imports in the 1st quarter valued at $159,000. Finally, Teza Capital Management LLC acquired a new stake in Pier 1 Imports in the 1st quarter valued at $167,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.
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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