Pier 1 Imports (NYSE:PIR) had its price target reduced by Credit Suisse Group from $2.00 to $1.00 in a research note issued to investors on Tuesday. The firm currently has an “underperform” rating on the specialty retailer’s stock. Credit Suisse Group’s target price indicates a potential downside of 33.33% from the company’s current price.

Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. TheStreet lowered shares of Pier 1 Imports from a “c-” rating to a “d” rating in a report on Wednesday, June 27th. Zacks Investment Research upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Loop Capital cut their price objective on shares of Pier 1 Imports from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Thursday, September 20th. Finally, Telsey Advisory Group cut their price objective on shares of Pier 1 Imports from $3.00 to $1.50 and set a “market perform” rating on the stock in a report on Friday, September 21st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.07.

Shares of PIR stock opened at $1.50 on Tuesday. Pier 1 Imports has a 1-year low of $1.36 and a 1-year high of $5.92. The company has a current ratio of 2.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.77.

Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, June 27th. The specialty retailer reported ($0.36) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. The business had revenue of $371.90 million for the quarter, compared to analyst estimates of $375.45 million. Pier 1 Imports had a negative net margin of 0.79% and a negative return on equity of 3.26%. The company’s revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. analysts expect that Pier 1 Imports will post -0.51 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of PIR. Cubist Systematic Strategies LLC acquired a new stake in Pier 1 Imports during the 2nd quarter worth approximately $114,000. MetLife Investment Advisors LLC increased its position in Pier 1 Imports by 278.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 40,720 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 29,971 shares in the last quarter. Bank of Montreal Can acquired a new stake in Pier 1 Imports during the 2nd quarter worth approximately $168,000. GSA Capital Partners LLP acquired a new stake in Pier 1 Imports during the 2nd quarter worth approximately $179,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Pier 1 Imports during the 1st quarter worth approximately $205,000. 74.28% of the stock is owned by hedge funds and other institutional investors.

About Pier 1 Imports

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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