Pier 1 Imports Inc (NYSE:PIR) Receives Average Recommendation of “Hold” from Analysts
Shares of Pier 1 Imports Inc (NYSE:PIR) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $1.22.
PIR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. ValuEngine cut shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.
Large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Pier 1 Imports by 2.7% during the fourth quarter. BlackRock Inc. now owns 5,511,193 shares of the specialty retailer’s stock worth $1,686,000 after purchasing an additional 142,741 shares during the period. Virtu Financial LLC increased its stake in shares of Pier 1 Imports by 550.1% during the first quarter. Virtu Financial LLC now owns 137,610 shares of the specialty retailer’s stock worth $105,000 after buying an additional 116,442 shares during the period. California Public Employees Retirement System increased its stake in shares of Pier 1 Imports by 4.6% during the fourth quarter. California Public Employees Retirement System now owns 568,039 shares of the specialty retailer’s stock worth $174,000 after buying an additional 24,839 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Pier 1 Imports by 38.0% during the first quarter. Oppenheimer & Co. Inc. now owns 77,700 shares of the specialty retailer’s stock worth $59,000 after buying an additional 21,400 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Pier 1 Imports during the fourth quarter worth approximately $136,000.
Pier 1 Imports (NYSE:PIR) last posted its earnings results on Wednesday, June 26th. The specialty retailer reported ($19.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($13.00) by ($6.97). Pier 1 Imports had a negative net margin of 16.85% and a negative return on equity of 217.70%. The company had revenue of $314.32 million during the quarter, compared to analyst estimates of $315.40 million. During the same period in the previous year, the company earned ($0.36) EPS. As a group, research analysts forecast that Pier 1 Imports will post -42.58 EPS for the current fiscal year.
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.
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