Pier 1 Imports Price Target Cut to $1.24 (PIR)
Deutsche Bank cut their target price on shares of Pier 1 Imports (NYSE:PIR) from $1.29 to $1.24 in a research note issued on Sunday, StockRatingsNetwork.com reports. Deutsche Bank’s target price indicates a potential downside of 93.95% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Wedbush cut their price target on shares of Pier 1 Imports (NYSE:PIR) from $27.00 to $25.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at KeyCorp cut their price target on shares of Pier 1 Imports (NYSE:PIR) from $26.00 to $24.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Pier 1 Imports (NYSE:PIR) from $24.00 to $20.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock.
Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.83.
Shares of Pier 1 Imports (NYSE:PIR) opened at 20.49 on Friday. Pier 1 Imports has a 1-year low of $18.05 and a 1-year high of $25.29. The stock’s 50-day moving average is $22.40 and its 200-day moving average is $23.11. The company has a market cap of $2.172 billion and a price-to-earnings ratio of 16.60.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Thursday, September 19th. The company reported $0.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.02. The company had revenue of $395.60 million for the quarter, compared to the consensus estimate of $404.64 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.27 EPS for the current fiscal year.
Pier 1 Imports, Inc (NYSE:PIR) is a specialty retailer of decorative home furnishings and gifts.
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