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Pier 1 Imports (NYSE:PIR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Monday. The firm currently has a $16.40 price target on the stock. Zacks‘s target price would indicate a potential upside of 2.24% from the stock’s previous close.

Pier 1 Imports (NYSE:PIR) traded down 0.19% on Monday, hitting $16.01. 530,522 shares of the company’s stock traded hands. Pier 1 Imports has a one year low of $14.78 and a one year high of $23.98. The stock’s 50-day moving average is $15.38 and its 200-day moving average is $17.40. The company has a market cap of $1.515 billion and a P/E ratio of 16.22.

Pier 1 Imports (NYSE:PIR) last released its earnings data on Thursday, June 19th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.04. The company had revenue of $419.10 million for the quarter, compared to the consensus estimate of $422.43 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $1.13 EPS for the current fiscal year.

In other Pier 1 Imports news, EVP Gregory Humenesky unloaded 5,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.78, for a total transaction of $78,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Oppenheimer cut their price target on shares of Pier 1 Imports from $22.00 to $19.00 in a research note on Thursday, August 14th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Pier 1 Imports in a research note on Friday, July 25th. They now have a $18.00 price target on the stock, down previously from $23.00. Finally, analysts at Nomura initiated coverage on shares of Pier 1 Imports in a research note on Wednesday, July 16th. They set a “buy” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.53.

Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts.

To view Zacks’ full report, visit Zacks’ official website.

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