Pier 1 Imports Inc (NYSE:PIR) has been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.48.

Several brokerages recently issued reports on PIR. Wedbush lowered their price target on Pier 1 Imports from $3.00 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, June 29th. TheStreet lowered Pier 1 Imports from a “c-” rating to a “d” rating in a research note on Wednesday, June 27th. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Citigroup lowered their price target on Pier 1 Imports from $3.20 to $3.10 and set a “neutral” rating on the stock in a research note on Thursday, June 28th. Finally, Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th.

Several hedge funds have recently added to or reduced their stakes in the company. Towle & Co. grew its stake in shares of Pier 1 Imports by 24.4% in the 2nd quarter. Towle & Co. now owns 10,901,645 shares of the specialty retailer’s stock valued at $25,946,000 after purchasing an additional 2,136,230 shares during the period. BlackRock Inc. grew its stake in shares of Pier 1 Imports by 4.6% in the 2nd quarter. BlackRock Inc. now owns 5,704,183 shares of the specialty retailer’s stock valued at $13,576,000 after purchasing an additional 252,807 shares during the period. Canada Pension Plan Investment Board grew its stake 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 valued at $8,368,000 after purchasing an additional 3,395,400 shares during the period. Contrarius Investment Management Ltd grew its stake in shares of Pier 1 Imports by 39.7% in the 2nd quarter. Contrarius Investment Management Ltd now owns 2,886,045 shares of the specialty retailer’s stock valued at $6,869,000 after purchasing an additional 820,004 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Pier 1 Imports by 38.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,709,973 shares of the specialty retailer’s stock valued at $6,450,000 after purchasing an additional 749,675 shares during the period. Institutional investors own 81.48% of the company’s stock.

PIR traded up $0.08 on Wednesday, hitting $2.00. 1,137,401 shares of the stock traded hands, compared to its average volume of 1,102,446. Pier 1 Imports has a 52 week low of $1.74 and a 52 week high of $5.92. The company has a quick ratio of 0.86, a current ratio of 2.11 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $162.78 million, a price-to-earnings ratio of 9.52 and a beta of 1.53.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 27th. The specialty retailer reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.03. Pier 1 Imports had a negative return on equity of 3.26% and a negative net margin of 0.79%. The firm had revenue of $371.90 million for the quarter, compared to analyst estimates of $375.45 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. equities research analysts expect that Pier 1 Imports will post -0.41 EPS 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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