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Pier 1 Imports (PIR) Raised to Hold at Zacks Investment Research |

Pier 1 Imports (PIR) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Pier 1 Imports (NYSE:PIR) from a sell rating to a hold rating in a research note published 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. “

Other equities research analysts have also issued research reports about the stock. Loop Capital set a $4.00 price objective on shares of Pier 1 Imports and gave the company a hold rating in a research note on Thursday, December 14th. ValuEngine raised shares of Pier 1 Imports from a hold rating to a buy rating in a research note on Monday, December 11th. Telsey Advisory Group reaffirmed a market perform rating on shares of Pier 1 Imports in a research note on Thursday, January 25th. Finally, Gordon Haskett downgraded shares of Pier 1 Imports from a hold rating to a sell rating and set a $3.50 target price on the stock. in a report on Thursday, December 14th. Seven research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $4.46.

Shares of PIR stock opened at $2.95 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.74. Pier 1 Imports has a 52 week low of $2.87 and a 52 week high of $7.45. The stock has a market cap of $248.38, a price-to-earnings ratio of 10.54, a P/E/G ratio of -4.83 and a beta of 1.56.

In other news, major shareholder Co Towle bought 32,900 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $3.09 per share, for a total transaction of $101,661.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased a total of 41,100 shares of company stock worth $127,641 in the last quarter. Insiders own 5.58% of the company’s stock.

Several large investors have recently bought and sold shares of PIR. Towle Co. increased its holdings in shares of Pier 1 Imports by 216.9% during the 4th quarter. Towle Co. now owns 4,901,790 shares of the specialty retailer’s stock worth $20,293,000 after purchasing an additional 3,354,913 shares during the period. Spark Investment Management LLC increased its holdings in shares of Pier 1 Imports by 230.6% during the 4th quarter. Spark Investment Management LLC now owns 917,100 shares of the specialty retailer’s stock worth $3,796,000 after purchasing an additional 639,700 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in shares of Pier 1 Imports by 1,260.2% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 557,700 shares of the specialty retailer’s stock worth $2,309,000 after purchasing an additional 516,700 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Pier 1 Imports by 263.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 440,136 shares of the specialty retailer’s stock worth $1,844,000 after purchasing an additional 318,987 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Pier 1 Imports by 114.3% during the 3rd quarter. GSA Capital Partners LLP now owns 405,720 shares of the specialty retailer’s stock worth $1,700,000 after purchasing an additional 216,420 shares during the period. Institutional investors own 77.51% of the company’s stock.

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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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