Pier 1 Imports Inc. (PIR) Receives Outperform Rating from Wedbush
Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued on Wednesday.
A number of other brokerages have also recently commented on PIR. BTIG Research began coverage on Pier 1 Imports in a report on Thursday, June 2nd. They issued a “neutral” rating on the stock. Wolfe Research raised Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a report on Wednesday, June 22nd. Telsey Advisory Group decreased their target price on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. Deutsche Bank AG began coverage on Pier 1 Imports in a report on Sunday, June 26th. They issued a “sell” rating and a $5.50 target price on the stock. Finally, Longbow Research initiated coverage on Pier 1 Imports in a report on Thursday, June 16th. They issued a “neutral” rating on the stock. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Pier 1 Imports has a consensus rating of “Hold” and an average price target of $6.40.
Pier 1 Imports (NYSE:PIR) traded up 2.2392% during mid-day trading on Wednesday, hitting $4.2736. The company had a trading volume of 276,365 shares. The firm’s 50 day moving average is $4.44 and its 200 day moving average is $5.51. The company has a market capitalization of $349.00 million, a price-to-earnings ratio of 13.5241 and a beta of 1.73. Pier 1 Imports has a 52 week low of $3.73 and a 52 week high of $8.23.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, June 29th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. The company earned $418.40 million during the quarter. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Pier 1 Imports will post $0.26 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. increased its stake in Pier 1 Imports by 75.9% in the first quarter. Pacad Investment Ltd. now owns 82,500 shares of the company’s stock valued at $578,000 after buying an additional 35,600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Pier 1 Imports during the first quarter valued at $330,000. Ngam Advisors L.P. bought a new stake in Pier 1 Imports during the first quarter valued at $239,000. TIAA CREF Investment Management LLC increased its stake in Pier 1 Imports by 36.1% in the first quarter. TIAA CREF Investment Management LLC now owns 463,781 shares of the company’s stock valued at $3,251,000 after buying an additional 123,047 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Pier 1 Imports by 146,013.3% in the first quarter. JPMorgan Chase & Co. now owns 1,317,942 shares of the company’s stock valued at $9,239,000 after buying an additional 1,317,040 shares in the last quarter. 98.63% of the stock is owned by hedge funds and other institutional investors.
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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