Pier 1 Imports (PIR) Trading 35.6% Higher

Pier 1 Imports Inc (NYSE:PIR) traded up 35.6% during mid-day trading on Wednesday . The stock traded as high as $0.64 and last traded at $0.61. 10,018,050 shares were traded during trading, an increase of 128% from the average session volume of 4,386,612 shares. The stock had previously closed at $0.45.

Several equities research analysts have recently issued reports on the company. Gordon Haskett lowered Pier 1 Imports from a “hold” rating to an “underperform” rating in a report on Thursday, March 21st. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, Zacks Investment Research lowered Pier 1 Imports from a “hold” rating to a “strong sell” rating in a report on Saturday, January 19th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $1.44.

The firm has a market cap of $38.25 million, a PE ratio of -0.28 and a beta of 4.15. The company has a quick ratio of 0.47, a current ratio of 1.76 and a debt-to-equity ratio of 2.74.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, April 17th. The specialty retailer reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.63). Pier 1 Imports had a negative net margin of 12.80% and a negative return on equity of 111.92%. The company had revenue of $412.51 million during the quarter. Equities research analysts expect that Pier 1 Imports Inc will post -1.93 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Pier 1 Imports by 2.7% in the 4th quarter. BlackRock Inc. now owns 5,511,193 shares of the specialty retailer’s stock valued at $1,686,000 after acquiring an additional 142,741 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Pier 1 Imports by 8.5% in the 3rd quarter. Vanguard Group Inc now owns 3,858,116 shares of the specialty retailer’s stock valued at $5,787,000 after acquiring an additional 303,225 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Pier 1 Imports by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,858,116 shares of the specialty retailer’s stock valued at $5,787,000 after acquiring an additional 303,225 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pier 1 Imports by 59.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,320,300 shares of the specialty retailer’s stock valued at $3,480,000 after acquiring an additional 869,400 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Pier 1 Imports by 3.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,135,714 shares of the specialty retailer’s stock valued at $653,000 after acquiring an additional 70,715 shares in the last quarter. 48.62% of the stock is currently owned by institutional investors and hedge funds.

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About Pier 1 Imports (NYSE:PIR)

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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