Pier 1 Imports’ (PIR) Hold Rating Reaffirmed at KeyCorp

KeyCorp restated their hold rating on shares of Pier 1 Imports, Inc. (NYSE:PIR) in a research note issued to investors on Friday morning.

Several other research firms have also commented on PIR. Johnson Rice lowered shares of Pier 1 Imports from an accumulate rating to a hold rating in a research report on Thursday, June 29th. Telsey Advisory Group lowered their price target on shares of Pier 1 Imports from $6.00 to $5.00 and set a market perform rating on the stock in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of Pier 1 Imports from a hold rating to a buy rating and set a $6.00 price target on the stock in a research report on Wednesday, June 28th. Gordon Haskett upgraded shares of Pier 1 Imports from a reduce rating to a hold rating and set a $6.00 price target on the stock in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG lowered their price target on shares of Pier 1 Imports from $6.25 to $5.00 and set a sell rating on the stock in a research report on Wednesday, May 31st. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $5.69.

Pier 1 Imports (NYSE:PIR) opened at 4.35 on Friday. Pier 1 Imports has a one year low of $3.84 and a one year high of $9.68. The firm has a market capitalization of $352.70 million, a PE ratio of 10.85 and a beta of 1.69. The stock’s 50 day moving average price is $4.35 and its 200 day moving average price is $5.65.

Pier 1 Imports (NYSE:PIR) last released its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $409.50 million for the quarter, compared to analyst estimates of $420.80 million. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. Analysts expect that Pier 1 Imports will post $0.47 EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Pier 1 Imports by 4.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock valued at $194,000 after purchasing an additional 1,583 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Pier 1 Imports by 493.4% in the 2nd quarter. Verition Fund Management LLC now owns 83,269 shares of the specialty retailer’s stock valued at $432,000 after purchasing an additional 69,236 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Pier 1 Imports in the 2nd quarter valued at $814,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Pier 1 Imports by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,436 shares of the specialty retailer’s stock valued at $335,000 after purchasing an additional 326 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings 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 valued at $378,000 after purchasing an additional 37,606 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Pier 1 Imports Company Profile

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.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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