The Manufacturers Life Insurance Company lifted its stake in shares of Pier 1 Imports, Inc. (NYSE:PIR) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,436 shares of the specialty retailer’s stock after acquiring an additional 326 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Pier 1 Imports worth $335,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Pier 1 Imports by 106.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 72,900 shares of the specialty retailer’s stock worth $378,000 after acquiring an additional 37,606 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Pier 1 Imports by 49.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 52,564 shares of the specialty retailer’s stock worth $273,000 after acquiring an additional 17,359 shares in the last quarter. State Street Corp grew its stake in shares of Pier 1 Imports by 4.9% in the 2nd quarter. State Street Corp now owns 1,748,341 shares of the specialty retailer’s stock worth $9,074,000 after acquiring an additional 81,907 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Pier 1 Imports in the 2nd quarter worth $2,498,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Pier 1 Imports in the 2nd quarter worth $2,607,000. Institutional investors own 77.85% of the company’s stock.

Several analysts have recently issued reports on PIR shares. ValuEngine upgraded shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Loop Capital reduced their target price on shares of Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. KeyCorp restated a “hold” rating on shares of Pier 1 Imports in a research report on Friday, September 8th. Jefferies Group restated a “hold” rating and set a $5.90 price target on shares of Pier 1 Imports in a research report on Sunday, September 3rd. Finally, Zacks Investment Research upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. Pier 1 Imports currently has a consensus rating of “Hold” and an average target price of $5.01.

Shares of Pier 1 Imports, Inc. (NYSE PIR) traded up $0.06 during trading hours on Friday, reaching $4.95. 1,173,852 shares of the company’s stock were exchanged, compared to its average volume of 949,720. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.23 and a quick ratio of 0.43. The company has a market capitalization of $409.73, a price-to-earnings ratio of 10.40, a PEG ratio of -11.51 and a beta of 1.85. Pier 1 Imports, Inc. has a 12-month low of $3.96 and a 12-month high of $9.67.

Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The firm had revenue of $407.61 million for the quarter, compared to the consensus estimate of $406.32 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. sell-side analysts expect that Pier 1 Imports, Inc. will post 0.43 EPS for the current year.

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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.

Institutional Ownership by Quarter for Pier 1 Imports (NYSE:PIR)

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