Pier 1 Imports, Inc. (PIR) Price Target Cut to $3.50
Pier 1 Imports, Inc. (NYSE:PIR) had its price objective decreased by equities research analysts at Credit Suisse Group from $4.00 to $3.50 in a report released on Thursday. The firm presently has an “underperform” rating on the specialty retailer’s stock. Credit Suisse Group’s target price suggests a potential downside of 16.47% from the stock’s current price.
Several other research analysts have also weighed in on PIR. Loop Capital reaffirmed a “buy” rating and set a $10.00 target price (down previously from $12.00) on shares of Pier 1 Imports in a research note on Thursday, June 29th. Zacks Investment Research raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday, June 28th. ValuEngine raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Gordon Haskett raised shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price for the company in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $7.25 target price on shares of Pier 1 Imports in a research note on Friday, June 23rd. Seven research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.17.
Shares of Pier 1 Imports (NYSE:PIR) opened at 4.19 on Thursday. The stock has a market capitalization of $339.73 million, a PE ratio of 10.45 and a beta of 1.69. Pier 1 Imports has a 52-week low of $3.96 and a 52-week high of $9.68. The firm has a 50-day moving average of $4.37 and a 200 day moving average of $5.55.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The firm had revenue of $407.61 million during the quarter, compared to analysts’ expectations of $406.32 million. During the same period last year, the business earned ($0.05) earnings per share. Pier 1 Imports’s revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that Pier 1 Imports will post $0.41 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC purchased a new position in shares of Pier 1 Imports in the second quarter valued at approximately $103,000. Alambic Investment Management L.P. purchased a new position in shares of Pier 1 Imports in the first quarter valued at approximately $104,000. Jane Street Group LLC boosted its stake in shares of Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock valued at $154,000 after purchasing an additional 4,853 shares during the period. Airain ltd purchased a new position in shares of Pier 1 Imports in the first quarter valued at approximately $159,000. Finally, Koch Industries Inc. purchased a new position in shares of Pier 1 Imports in the first quarter valued at approximately $171,000. 82.76% of the stock is owned by institutional investors and hedge funds.
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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