ValuEngine Downgrades Pier 1 Imports, Inc. (PIR) to Hold
Pier 1 Imports, Inc. (NYSE:PIR) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Other equities research analysts have also issued reports about the company. Telsey Advisory Group dropped their target price on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Thursday, June 29th. Loop Capital dropped their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Johnson Rice lowered Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research report on Thursday, June 29th. BidaskClub lowered Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Credit Suisse Group set a $4.00 target price on Pier 1 Imports and gave the stock an “underperform” rating in a research report on Friday, July 7th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Pier 1 Imports presently has a consensus rating of “Hold” and an average price target of $5.69.
Pier 1 Imports (PIR) traded down 1.66% during trading on Thursday, reaching $4.15. 2,600,861 shares of the company were exchanged. The firm’s 50 day moving average is $4.37 and its 200 day moving average is $5.55. The stock has a market capitalization of $336.48 million, a PE ratio of 10.35 and a beta of 1.69. Pier 1 Imports has a 52-week low of $3.96 and a 52-week high of $9.68.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The firm had revenue of $409.50 million for the quarter, compared to analyst estimates of $420.80 million. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts expect that Pier 1 Imports will post $0.47 EPS 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 bought a new position in Pier 1 Imports during the second quarter valued at about $103,000. Alambic Investment Management L.P. bought a new position in Pier 1 Imports during the first quarter valued at about $104,000. Jane Street Group LLC boosted its stake in Pier 1 Imports by 29.0% during the first 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 bought a new position in Pier 1 Imports during the first quarter valued at about $159,000. Finally, Koch Industries Inc. bought a new position in Pier 1 Imports during the first quarter valued at about $171,000. 82.76% of the stock is 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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