Pier 1 Imports (NYSE:PIR) had its price objective lowered by investment analysts at UBS Group from $2.00 to $1.00 in a report issued on Friday, September 21st, www.benzinga.com reports. The brokerage currently has a “sell” rating on the specialty retailer’s stock. UBS Group’s target price suggests a potential downside of 34.64% from the stock’s previous close.

PIR has been the subject of a number of other research reports. Loop Capital dropped their price target on shares of Pier 1 Imports from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Thursday, September 20th. Citigroup decreased their price objective on shares of Pier 1 Imports from $3.10 to $1.80 and set a “neutral” rating for the company in a report on Friday, September 21st. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Finally, TheStreet downgraded shares of Pier 1 Imports from a “c-” rating to a “d” rating in a report on Wednesday, June 27th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $2.04.

Shares of NYSE:PIR traded down $0.05 during midday trading on Friday, reaching $1.53. The company had a trading volume of 1,099,220 shares, compared to its average volume of 1,600,249. The company has a current ratio of 2.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market cap of $128.51 million, a PE ratio of 7.29 and a beta of 1.54. Pier 1 Imports has a one year low of $1.36 and a one year high of $5.92.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, October 3rd. The specialty retailer reported ($0.63) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.63). The business had revenue of $355.30 million during the quarter, compared to analyst estimates of $356.79 million. Pier 1 Imports had a negative net margin of 0.79% and a negative return on equity of 3.26%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, equities research analysts forecast that Pier 1 Imports will post -0.56 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mutual Advisors LLC boosted its holdings in shares of Pier 1 Imports by 54.5% during the second quarter. Mutual Advisors LLC now owns 406,600 shares of the specialty retailer’s stock valued at $968,000 after acquiring an additional 143,500 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Pier 1 Imports during the second quarter valued at $114,000. Renaissance Technologies LLC boosted its holdings in shares of Pier 1 Imports by 382.7% during the second quarter. Renaissance Technologies LLC now owns 1,450,900 shares of the specialty retailer’s stock valued at $3,453,000 after acquiring an additional 1,150,300 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Pier 1 Imports by 53.3% during the second 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. Finally, BlackRock Inc. boosted its holdings in shares of Pier 1 Imports by 4.6% during the second quarter. BlackRock Inc. now owns 5,704,183 shares of the specialty retailer’s stock valued at $13,576,000 after acquiring an additional 252,807 shares during the period. 74.28% of the stock is owned by institutional investors.

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.

Further Reading: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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