Zacks Investment Research downgraded shares of Pier 1 Imports (NYSE:PIR) from a hold rating to a sell rating in a report issued on Wednesday morning.
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. “
PIR has been the subject of several other research reports. Gordon Haskett cut shares of Pier 1 Imports from a hold rating to a sell rating and set a $3.50 price target for the company. 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 shares of Pier 1 Imports from a hold rating to a buy rating in a research report on Monday, December 11th. Finally, Loop Capital set a $4.00 price target on shares of Pier 1 Imports and gave the stock a hold rating in a research report on Thursday, December 14th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $4.46.
Shares of Pier 1 Imports (NYSE PIR) opened at $3.16 on Wednesday. Pier 1 Imports has a 52-week low of $2.87 and a 52-week high of $7.45. The firm has a market cap of $255.04, a P/E ratio of 9.00, a PEG ratio of -4.96 and a beta of 1.56. 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 announced its quarterly earnings results on Wednesday, December 13th. The specialty retailer reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Pier 1 Imports had a return on equity of 10.17% and a net margin of 1.28%. The business had revenue of $469.20 million during the quarter, compared to analysts’ expectations of $466.60 million. During the same period in the previous year, the company posted $0.22 EPS. Pier 1 Imports’s revenue for the quarter was down 1.4% on a year-over-year basis. research analysts expect that Pier 1 Imports will post 0.2 earnings per share for the current fiscal year.
In other news, major shareholder & Co Towle acquired 32,900 shares of Pier 1 Imports stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $3.09 per share, for a total transaction of $101,661.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have purchased 41,100 shares of company stock valued at $127,641. 5.58% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PIR. Teacher Retirement System of Texas acquired a new position in Pier 1 Imports during the 4th quarter valued at approximately $109,000. Oppenheimer & Co. Inc. increased its stake in Pier 1 Imports by 149.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 31,400 shares of the specialty retailer’s stock valued at $132,000 after purchasing an additional 18,800 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Pier 1 Imports during the 4th quarter valued at approximately $133,000. Aperio Group LLC increased its stake in Pier 1 Imports by 72.0% during the 3rd quarter. Aperio Group LLC now owns 34,231 shares of the specialty retailer’s stock valued at $143,000 after purchasing an additional 14,334 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Pier 1 Imports by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock valued at $194,000 after purchasing an additional 1,583 shares in the last quarter. Institutional investors and hedge funds own 77.61% 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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