Pier 1 Imports (NYSE:PIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Pier 1 Imports, Inc. consists of a chain of retail stores operating under the names Pier 1 Imports and The Pier, selling a wide variety of furniture, decorative home furnishings, dining and kitchen goods, accessories and other specialty items for the home. Additionally, the company, through certain subsidiaries, operates stores in the United Kingdom under the name The Pier. The company supplies merchandise and licenses the Pier 1 name to Sears Mexico and Sears Puerto Rico. “

A number of other research analysts also recently commented on the company. Loop Capital dropped their price target on Pier 1 Imports from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Thursday, September 20th. Argus cut Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Citigroup dropped their price target on Pier 1 Imports from $3.10 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, September 21st. Credit Suisse Group dropped their price target on Pier 1 Imports from $2.00 to $1.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 25th. Finally, UBS Group dropped their price target on Pier 1 Imports from $2.00 to $1.00 and set a “sell” rating on the stock in a research report on Friday, September 21st. Six research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $2.01.

NYSE:PIR opened at $1.33 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.56 and a current ratio of 1.68. Pier 1 Imports has a 52 week low of $1.31 and a 52 week high of $5.92. The company has a market cap of $118.45 million, a price-to-earnings ratio of 6.33 and a beta of 1.13.

Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, October 3rd. The specialty retailer reported ($0.63) EPS for the quarter, hitting analysts’ consensus estimates of ($0.63). Pier 1 Imports had a negative return on equity of 22.02% and a negative net margin of 3.35%. The company had revenue of $355.30 million for the quarter, compared to the consensus estimate of $356.79 million. During the same quarter last year, the business posted ($0.05) EPS. Pier 1 Imports’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, research analysts forecast that Pier 1 Imports will post -1.05 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Pier 1 Imports during the 2nd quarter worth approximately $114,000. Bank of Montreal Can acquired a new stake in Pier 1 Imports in the 2nd quarter valued at approximately $168,000. GSA Capital Partners LLP acquired a new stake in Pier 1 Imports in the 2nd quarter valued at approximately $179,000. Stone Ridge Asset Management LLC increased its position in Pier 1 Imports by 40.1% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 122,742 shares of the specialty retailer’s stock valued at $184,000 after acquiring an additional 35,120 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Pier 1 Imports by 53.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,000 shares of the specialty retailer’s stock valued at $209,000 after acquiring an additional 30,600 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

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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