Shares of Pier 1 Imports Inc (NYSE:PIR) have been given a consensus recommendation of “Hold” by the thirteen research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.04.

Several brokerages have issued reports on PIR. Telsey Advisory Group dropped their target price on shares of Pier 1 Imports from $3.00 to $1.50 and set a “market perform” rating for the company in a research report on Friday, September 21st. Citigroup dropped their target price on shares of Pier 1 Imports from $3.10 to $1.80 and set a “neutral” rating for the company in a research report on Friday, September 21st. Loop Capital dropped their target price on shares of Pier 1 Imports from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Thursday, September 20th. Zacks Investment Research lowered shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, Credit Suisse Group lowered their price objective on shares of Pier 1 Imports from $2.00 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, September 25th.

Several institutional investors and hedge funds have recently made changes to their positions in PIR. Canada Pension Plan Investment Board lifted its holdings in shares of Pier 1 Imports by 2,815.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,516,000 shares of the specialty retailer’s stock worth $8,368,000 after acquiring an additional 3,395,400 shares during the last quarter. Towle & Co. increased its stake in shares of Pier 1 Imports by 24.4% in the second quarter. Towle & Co. now owns 10,901,645 shares of the specialty retailer’s stock worth $25,946,000 after buying an additional 2,136,230 shares during the period. Renaissance Technologies LLC increased its stake in shares of Pier 1 Imports by 382.7% in the second quarter. Renaissance Technologies LLC now owns 1,450,900 shares of the specialty retailer’s stock worth $3,453,000 after buying an additional 1,150,300 shares during the period. Contrarius Investment Management Ltd increased its stake in shares of Pier 1 Imports by 39.7% in the second quarter. Contrarius Investment Management Ltd now owns 2,886,045 shares of the specialty retailer’s stock worth $6,869,000 after buying an additional 820,004 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Pier 1 Imports by 38.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,709,973 shares of the specialty retailer’s stock worth $6,450,000 after buying an additional 749,675 shares during the period. Hedge funds and other institutional investors own 72.59% of the company’s stock.

Pier 1 Imports stock traded down $0.05 during mid-day trading on Monday, hitting $1.65. 156,720 shares of the company traded hands, compared to its average volume of 740,302. Pier 1 Imports has a one year low of $1.36 and a one year high of $5.92. The firm has a market cap of $145.72 million, a PE ratio of 7.86 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 0.56.

Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, October 3rd. The specialty retailer reported ($0.63) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.63). Pier 1 Imports had a negative net margin of 3.35% and a negative return on equity of 22.02%. The business had revenue of $355.30 million during the quarter, compared to analyst estimates of $356.79 million. During the same period in the previous year, the business posted ($0.05) earnings per share. Pier 1 Imports’s revenue for the quarter was down 12.8% on a year-over-year basis. As a group, research analysts anticipate that Pier 1 Imports will post -1.05 earnings per share for the current year.

Pier 1 Imports Company Profile

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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Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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