Pier 1 Imports (NYSE:PIR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $1.75 target price on the specialty retailer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 37.80% from the company’s current price.
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. “
Several other research analysts have also recently weighed in on the stock. Argus cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Citigroup dropped their price objective on shares of Pier 1 Imports from $1.80 to $1.60 and set a “neutral” rating for the company in a research report on Thursday, October 4th. Credit Suisse Group dropped their target price on shares of Pier 1 Imports from $2.00 to $1.00 and set an “underperform” rating for the company in a research report on Tuesday, September 25th. Finally, UBS Group dropped their target price on shares of Pier 1 Imports from $2.00 to $1.00 and set a “sell” rating for the company in a research report on Friday, September 21st. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $2.01.
PIR stock opened at $1.27 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.56 and a current ratio of 1.68. Pier 1 Imports has a fifty-two week low of $1.25 and a fifty-two week high of $5.92.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings data on Wednesday, October 3rd. The specialty retailer reported ($0.63) earnings per share for the quarter, hitting the consensus estimate of ($0.63). Pier 1 Imports had a negative net margin of 3.35% and a negative return on equity of 22.02%. The firm had revenue of $355.30 million during the quarter, compared to analysts’ expectations of $356.79 million. During the same quarter in the previous year, the company posted ($0.05) EPS. Pier 1 Imports’s revenue was down 12.8% on a year-over-year basis. On average, sell-side analysts predict that Pier 1 Imports will post -1.05 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Pier 1 Imports during the 2nd quarter valued at $114,000. Bank of Montreal Can bought a new stake in shares of Pier 1 Imports during the 2nd quarter valued at $168,000. GSA Capital Partners LLP bought a new stake in shares of Pier 1 Imports during the 2nd quarter valued at $179,000. Oppenheimer & Co. Inc. raised its position in shares of Pier 1 Imports by 53.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,000 shares of the specialty retailer’s stock valued at $209,000 after acquiring an additional 30,600 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Pier 1 Imports by 564.6% during the 1st quarter. Millennium Management LLC now owns 90,495 shares of the specialty retailer’s stock valued at $291,000 after acquiring an additional 76,878 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.
Pier 1 Imports Company Profile
Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.
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