Analysts Set Pier 1 Imports Inc (PIR) Price Target at $2.04

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Pier 1 Imports Inc (NYSE:PIR) has been given an average rating of “Hold” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $2.04.

A number of research firms have recently weighed in on PIR. ValuEngine raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Citigroup reduced their target price on shares of Pier 1 Imports from $1.80 to $1.60 and set a “neutral” rating on the stock in a research report on Thursday, October 4th. Credit Suisse Group reduced their target price on shares of Pier 1 Imports from $2.00 to $1.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 25th. Finally, UBS Group reduced their target price on shares of Pier 1 Imports from $2.00 to $1.00 and set a “sell” rating on the stock in a research report on Friday, September 21st.

Shares of NYSE:PIR traded down $0.05 during midday trading on Monday, reaching $1.65. The company’s stock had a trading volume of 156,720 shares, compared to its average volume of 740,302. The company has a market capitalization of $145.72 million, a PE ratio of 7.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 0.56. Pier 1 Imports has a 12-month low of $1.36 and a 12-month high of $5.92.

Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, October 3rd. The specialty retailer reported ($0.63) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.63). The firm had revenue of $355.30 million for the quarter, compared to the consensus estimate of $356.79 million. Pier 1 Imports had a negative net margin of 3.35% and a negative return on equity of 22.02%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. Equities analysts anticipate that Pier 1 Imports will post -1.05 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its stake in Pier 1 Imports by 53.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,000 shares of the specialty retailer’s stock worth $209,000 after purchasing an additional 30,600 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in Pier 1 Imports by 4.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 753,615 shares of the specialty retailer’s stock worth $1,793,000 after purchasing an additional 31,788 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in Pier 1 Imports by 40.1% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 122,742 shares of the specialty retailer’s stock worth $184,000 after purchasing an additional 35,120 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Pier 1 Imports in the 2nd quarter worth about $114,000. Finally, Systematic Financial Management LP boosted its stake in Pier 1 Imports by 14.8% in the 2nd quarter. Systematic Financial Management LP now owns 432,005 shares of the specialty retailer’s stock worth $1,028,000 after purchasing an additional 55,570 shares in the last quarter. Institutional investors own 72.59% of the company’s stock.

Pier 1 Imports Company Profile

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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