Pier 1 Imports (NYSE:PIR) had its price objective lowered by investment analysts at Morgan Stanley from $3.50 to $2.25 in a research report issued on Friday. The firm currently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s target price would indicate a potential downside of 14.77% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Vetr downgraded Pier 1 Imports from a “strong-buy” rating to a “buy” rating and set a $3.79 price target on the stock. in a research report on Thursday, April 5th. Loop Capital reduced their price target on Pier 1 Imports from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. Telsey Advisory Group reissued a “market perform” rating on shares of Pier 1 Imports in a research report on Thursday, January 25th. Finally, Wedbush reissued a “neutral” rating on shares of Pier 1 Imports in a research report on Monday, April 16th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.04.

Shares of NYSE PIR opened at $2.64 on Friday. The company has a market cap of $227.54, a PE ratio of 12.57, a PEG ratio of -4.48 and a beta of 1.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 2.34. Pier 1 Imports has a 1-year low of $2.64 and a 1-year high of $7.22.

Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, April 18th. The specialty retailer reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $512.23 million for the quarter, compared to analyst estimates of $537.62 million. Pier 1 Imports had a return on equity of 6.17% and a net margin of 0.65%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. equities research analysts predict that Pier 1 Imports will post 0.2 earnings per share for the current year.

In other Pier 1 Imports news, major shareholder & Co Towle bought 32,900 shares of Pier 1 Imports stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $3.09 per share, with a total value of $101,661.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 45,705 shares of company stock worth $142,468. Company insiders own 5.58% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of Pier 1 Imports by 47.1% in the 3rd quarter. Wells Fargo & Company MN now owns 106,188 shares of the specialty retailer’s stock valued at $444,000 after acquiring an additional 34,010 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Pier 1 Imports by 6.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,439,380 shares of the specialty retailer’s stock valued at $6,032,000 after acquiring an additional 82,983 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Pier 1 Imports by 35.2% in the 3rd quarter. Stifel Financial Corp now owns 140,325 shares of the specialty retailer’s stock valued at $582,000 after acquiring an additional 36,525 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Pier 1 Imports by 263.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 440,136 shares of the specialty retailer’s stock valued at $1,844,000 after acquiring an additional 318,987 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Pier 1 Imports by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 640,729 shares of the specialty retailer’s stock valued at $2,685,000 after acquiring an additional 33,929 shares during the last quarter. 78.04% of the stock is currently owned by hedge funds and other institutional investors.

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About Pier 1 Imports

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.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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