Pier 1 Imports, Inc. (NYSE:PIR) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Loop Capital restated a “buy” rating and issued a $12.00 price objective on shares of Pier 1 Imports in a report on Monday, April 17th. Zacks Investment Research upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, June 28th. Gordon Haskett upgraded shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 price objective for the company in a report on Tuesday, June 27th. Jefferies Group LLC restated a “hold” rating and issued a $7.25 price objective on shares of Pier 1 Imports in a report on Friday, June 23rd. Finally, ValuEngine lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Pier 1 Imports currently has an average rating of “Hold” and a consensus target price of $5.69.

Shares of Pier 1 Imports (PIR) opened at 4.39 on Friday. The firm has a 50-day moving average of $4.76 and a 200 day moving average of $6.09. Pier 1 Imports has a 1-year low of $3.73 and a 1-year high of $9.68. The company has a market capitalization of $355.94 million, a P/E ratio of 10.95 and a beta of 1.70.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The business had revenue of $409.50 million during the quarter, compared to analyst estimates of $420.80 million. During the same period in the prior year, the business earned ($0.07) EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts expect that Pier 1 Imports will post $0.47 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. OxFORD Asset Management LLP raised its stake in Pier 1 Imports by 93.8% in the second quarter. OxFORD Asset Management LLP now owns 554,806 shares of the specialty retailer’s stock worth $2,879,000 after buying an additional 268,519 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Pier 1 Imports by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock worth $37,105,000 after buying an additional 169,640 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in Pier 1 Imports by 1,295.4% in the second quarter. Virtu KCG Holdings LLC now owns 156,684 shares of the specialty retailer’s stock worth $813,000 after buying an additional 145,455 shares in the last quarter. Hancock Holding Co. raised its stake in Pier 1 Imports by 20.9% in the second quarter. Hancock Holding Co. now owns 188,872 shares of the specialty retailer’s stock worth $980,000 after buying an additional 32,679 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Pier 1 Imports by 13.1% in the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock worth $42,894,000 after buying an additional 959,886 shares in the last quarter. Institutional investors and hedge funds own 85.96% 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.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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