Published On: Thu, Sep 22nd, 2016

BTIG Research Reaffirms “Sell” Rating for Pier 1 Imports Inc. (PIR)

Pier 1 Imports Inc. (NYSE:PIR)‘s stock had its “sell” rating reissued by stock analysts at BTIG Research in a research report issued to clients and investors on Thursday. They presently have a $3.50 price objective on the stock. BTIG Research’s target price suggests a potential downside of 17.84% from the stock’s previous close.
Several other equities analysts have also recently weighed in on PIR. Deutsche Bank AG assumed coverage on shares of Pier 1 Imports in a research note on Sunday, June 26th. They issued a “sell” rating and a $5.50 target price for the company. Oppenheimer Holdings Inc. cut shares of Pier 1 Imports from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 8th. Citigroup Inc. cut shares of Pier 1 Imports from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, September 8th. Nomura reissued a “buy” rating and issued a $8.50 target price on shares of Pier 1 Imports in a research note on Thursday, September 8th. Finally, Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Friday, July 1st. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.78.

Shares of Pier 1 Imports (NYSE:PIR) traded up 3.90% during trading on Thursday, hitting $4.26. 1,562,286 shares of the stock were exchanged. Pier 1 Imports has a 1-year low of $3.73 and a 1-year high of $8.91. The firm’s 50-day moving average is $4.53 and its 200 day moving average is $5.59. The company has a market cap of $347.88 million, a P/E ratio of 13.48 and a beta of 1.73.

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Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, June 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.02. Pier 1 Imports had a net margin of 1.44% and a return on equity of 9.60%. The firm earned $418.40 million during the quarter. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Pier 1 Imports will post $0.26 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of PIR. Metropolitan Life Insurance Co. NY raised its position in shares of Pier 1 Imports by 1.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 67,722 shares of the company’s stock worth $475,000 after buying an additional 938 shares during the last quarter. Raymond James & Associates raised its position in shares of Pier 1 Imports by 0.5% in the second quarter. Raymond James & Associates now owns 258,123 shares of the company’s stock worth $1,327,000 after buying an additional 1,187 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Pier 1 Imports by 3.9% in the second quarter. BlackRock Advisors LLC now owns 40,719 shares of the company’s stock worth $209,000 after buying an additional 1,520 shares during the last quarter. I.G. Investment Management LTD. raised its position in shares of Pier 1 Imports by 2.5% in the second quarter. I.G. Investment Management LTD. now owns 94,863 shares of the company’s stock worth $488,000 after buying an additional 2,315 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its position in shares of Pier 1 Imports by 0.9% in the first quarter. Aristotle Capital Boston LLC now owns 398,609 shares of the company’s stock worth $2,794,000 after buying an additional 3,649 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.
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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