Shares of Pier 1 Imports Inc. (NYSE:PIR) have received a consensus recommendation of “Hold” from the twenty-five research firms that are covering the company. Six analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.46.
A number of research firms have weighed in on PIR. Topeka Capital Markets began coverage on shares of Pier 1 Imports in a research report on Sunday, May 29th. They issued a “buy” rating and a $5.48 price objective for the company. BTIG Research began coverage on shares of Pier 1 Imports in a research report on Thursday, June 2nd. They set a “neutral” rating on the stock. Wolfe Research upgraded shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, June 22nd. Telsey Advisory Group dropped their price objective on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, June 30th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 price objective (down previously from $6.00) on shares of Pier 1 Imports in a research note on Thursday, June 30th.
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Pier 1 Imports by 356.4% in the second quarter. JPMorgan Chase & Co. now owns 6,015,526 shares of the company’s stock worth $30,920,000 after buying an additional 4,697,584 shares in the last quarter. Numeric Investors LLC increased its position in shares of Pier 1 Imports by 153.2% in the second quarter. Numeric Investors LLC now owns 3,593,202 shares of the company’s stock worth $18,469,000 after buying an additional 2,174,042 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Pier 1 Imports by 108.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,130 shares of the company’s stock worth $18,408,000 after buying an additional 1,862,793 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Pier 1 Imports during the second quarter worth $4,193,000. Finally, Bogle Investment Management L P DE bought a new position in shares of Pier 1 Imports during the first quarter worth $5,087,000. Hedge funds and other institutional investors own 98.63% of the company’s stock.
Pier 1 Imports (NYSE:PIR) traded down 5.50% on Monday, hitting $4.12. The stock had a trading volume of 927,588 shares. The firm has a market cap of $336.45 million, a price-to-earnings ratio of 13.04 and a beta of 1.73. Pier 1 Imports has a one year low of $3.73 and a one year high of $8.23. The company’s 50-day moving average price is $4.49 and its 200 day moving average price is $5.56.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, June 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.02. Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The company earned $418.40 million during the quarter. During the same period in the prior year, the company posted $0.08 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts expect that Pier 1 Imports will post $0.26 earnings per share for the current year.
Pier 1 Imports Company Profile
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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