Morgan Stanley Reaffirms Underweight Rating for Pier 1 Imports, Inc. (PIR)
Pier 1 Imports, Inc. (NYSE:PIR)‘s stock had its “underweight” rating reiterated by Morgan Stanley in a report issued on Thursday, Marketbeat reports. They currently have a $4.20 price objective on the specialty retailer’s stock, down from their previous price objective of $4.60. Morgan Stanley’s target price suggests a potential upside of 0.24% from the stock’s current price.
A number of other research firms also recently commented on PIR. Deutsche Bank AG reduced their price objective on shares of Pier 1 Imports from $6.25 to $5.00 and set a “sell” rating for the company in a report on Wednesday, May 31st. ValuEngine lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $7.25 target price on shares of Pier 1 Imports in a research note on Friday, June 23rd. Gordon Haskett raised shares of Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price on the stock in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Wednesday, June 28th. Seven analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.13.
Pier 1 Imports (NYSE PIR) traded up 0.263% during trading on Thursday, hitting $4.201. The stock had a trading volume of 852,027 shares. Pier 1 Imports has a 52 week low of $3.96 and a 52 week high of $9.68. The stock has a 50-day moving average price of $4.37 and a 200-day moving average price of $5.55. The company has a market cap of $340.62 million, a PE ratio of 10.476 and a beta of 1.69.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $407.61 million for the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Equities analysts predict that Pier 1 Imports will post $0.41 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its position in Pier 1 Imports by 4.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,039,867 shares of the specialty retailer’s stock worth $10,588,000 after buying an additional 89,989 shares in the last quarter. Airain ltd bought a new stake in Pier 1 Imports during the 1st quarter worth about $159,000. Nationwide Fund Advisors increased its position in Pier 1 Imports by 321.8% in the 1st quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock valued at $1,972,000 after acquiring an additional 210,090 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Pier 1 Imports in the 1st quarter valued at about $2,093,000. Finally, Comerica Bank acquired a new stake in Pier 1 Imports in the 1st quarter valued at about $761,000. Institutional investors and hedge funds own 82.76% of the company’s stock.
About Pier 1 Imports
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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