Pier 1 Imports Inc (NYSE:PIR) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 891,100 shares, a drop of 24.3% from the June 15th total of 1,177,400 shares. Based on an average daily volume of 233,000 shares, the short-interest ratio is presently 3.8 days. Approximately 1.1% of the company’s stock are short sold.

NYSE:PIR traded up $0.11 during mid-day trading on Friday, reaching $4.31. The stock had a trading volume of 154,833 shares, compared to its average volume of 327,683. The stock has a market cap of $18.35 million, a P/E ratio of -0.09 and a beta of 3.76. Pier 1 Imports has a 1-year low of $3.80 and a 1-year high of $44.20. The business has a 50 day simple moving average of $5.02. The company has a quick ratio of 0.22, a current ratio of 0.97 and a debt-to-equity ratio of 83.80.

Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, June 26th. The specialty retailer reported ($19.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($13.00) by ($6.97). Pier 1 Imports had a negative net margin of 16.85% and a negative return on equity of 217.70%. The company had revenue of $314.32 million during the quarter, compared to analyst estimates of $315.40 million. During the same quarter in the previous year, the firm earned ($0.36) earnings per share. As a group, analysts predict that Pier 1 Imports will post -42.58 EPS for the current fiscal year.

A number of research firms recently commented on PIR. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $1.31.

A number of hedge funds have recently modified their holdings of PIR. Rhumbline Advisers boosted its stake in Pier 1 Imports by 36.1% in the fourth quarter. Rhumbline Advisers now owns 119,399 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 31,666 shares during the period. Stone Ridge Asset Management LLC boosted its stake in Pier 1 Imports by 32.8% in the fourth quarter. Stone Ridge Asset Management LLC now owns 162,991 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 40,249 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Pier 1 Imports by 38.0% in the first quarter. Oppenheimer & Co. Inc. now owns 77,700 shares of the specialty retailer’s stock valued at $59,000 after acquiring an additional 21,400 shares during the period. Virtu Financial LLC boosted its stake in Pier 1 Imports by 550.1% in the first quarter. Virtu Financial LLC now owns 137,610 shares of the specialty retailer’s stock valued at $105,000 after acquiring an additional 116,442 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Pier 1 Imports in the fourth quarter valued at approximately $136,000.

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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