Pier 1 Imports (PIR) Lifted to Hold at Zacks Investment Research

Pier 1 Imports (NYSE:PIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Pier 1 Imports, Inc. consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier, selling a wide variety of furniture, decorative home furnishings, dining and kitchen goods, accessories and other specialty items for the home. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The company supplies merchandise and licenses the Pier 1 name to Sears Mexico and Sears Puerto Rico. “

Other equities analysts have also recently issued reports about the company. Loop Capital set a $4.00 price objective on Pier 1 Imports and gave the company a “hold” rating in a research report on Thursday, December 14th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Pier 1 Imports in a research report on Thursday, January 25th. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Gordon Haskett cut Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 price objective on the stock. in a research report on Thursday, December 14th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.78.

Pier 1 Imports (NYSE PIR) opened at $3.05 on Wednesday. The stock has a market capitalization of $264.21, a P/E ratio of 10.89, a P/E/G ratio of -5.24 and a beta of 1.59. Pier 1 Imports has a 12-month low of $2.87 and a 12-month high of $7.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 0.61.

Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, December 13th. The specialty retailer reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $469.20 million during the quarter, compared to the consensus estimate of $466.60 million. Pier 1 Imports had a net margin of 1.28% and a return on equity of 10.17%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. equities analysts anticipate that Pier 1 Imports will post 0.2 earnings per share for the current fiscal year.

In other Pier 1 Imports news, major shareholder & Co Towle purchased 32,900 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $3.09 per share, for a total transaction of $101,661.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.45% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Towle & Co. boosted its holdings in shares of Pier 1 Imports by 216.9% during the 4th quarter. Towle & Co. now owns 4,901,790 shares of the specialty retailer’s stock valued at $20,293,000 after purchasing an additional 3,354,913 shares during the last quarter. AXA boosted its holdings in shares of Pier 1 Imports by 68.1% during the 4th quarter. AXA now owns 491,800 shares of the specialty retailer’s stock valued at $2,036,000 after purchasing an additional 199,200 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Pier 1 Imports during the 4th quarter valued at about $453,000. Spark Investment Management LLC boosted its holdings in shares of Pier 1 Imports by 230.6% during the 4th quarter. Spark Investment Management LLC now owns 917,100 shares of the specialty retailer’s stock valued at $3,796,000 after purchasing an additional 639,700 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Pier 1 Imports by 174.6% during the 4th quarter. Virtu Financial LLC now owns 61,834 shares of the specialty retailer’s stock valued at $256,000 after purchasing an additional 39,315 shares during the last quarter. Institutional investors and hedge funds own 76.70% of the company’s stock.

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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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