Notable Reporting: Is Pier 1 Imports Inc a Buy? The Stock Rises Again

Notable Reporting: Is Pier 1 Imports Inc a Buy? The Stock Rises Again

The stock of Pier 1 Imports Inc (NYSE:PIR) is a huge mover today! The stock increased 6.34% or $0.37 during the last trading session, hitting $6.21. About 4.51M shares traded hands or 113.74% up from the average. Pier 1 Imports Inc (NYSE:PIR) has declined 16.33% since April 20, 2016 and is downtrending. It has underperformed by 20.89% the S&P500.
The move comes after 8 months positive chart setup for the $520.43 million company. It was reported on Nov, 22 by Barchart.com. We have $6.64 PT which if reached, will make NYSE:PIR worth $36.43M more.

Pier 1 Imports Inc (NYSE:PIR) Ratings Coverage

Out of 17 analysts covering Pier 1 Imports (NYSE:PIR), 4 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 24% are positive. Pier 1 Imports has been the topic of 29 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, January 27 by KeyBanc Capital Markets. The rating was downgraded by Deutsche Bank on Thursday, December 17 to “Sell”. The company was downgraded on Thursday, December 17 by Johnson Rice. The stock of Pier 1 Imports Inc (NYSE:PIR) earned “Market Perform” rating by Telsey Advisory Group on Tuesday, November 15. Jefferies initiated it with “Hold” rating and $7.50 target price in Thursday, October 8 report. Zacks upgraded Pier 1 Imports Inc (NYSE:PIR) on Tuesday, August 25 to “Hold” rating. The firm has “Underperform” rating by Credit Suisse given on Thursday, September 8. Credit Suisse downgraded the shares of PIR in a report on Friday, December 11 to “Neutral” rating. As per Thursday, June 23, the company rating was upgraded by Wolfe Research. The stock of Pier 1 Imports Inc (NYSE:PIR) has “Neutral” rating given on Thursday, September 8 by Wedbush.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.69 in Q2 2016. Its down 0.70, from 1.39 in 2016Q1. The ratio worsened, as 18 funds sold all Pier 1 Imports Inc shares owned while 53 reduced positions. 45 funds bought stakes while 54 increased positions. They now own 80.87 million shares or 10.40% more from 73.25 million shares in 2016Q1.
Cornerstone Mgmt Ltd Liability Co last reported 0.01% of its portfolio in the stock. Nomura Holdings accumulated 14,200 shares or 0% of the stock. Alliancebernstein Lp holds 0% or 204,456 shares in its portfolio. Credit Suisse Ag holds 0% or 247,609 shares in its portfolio. Pacad Investment Limited last reported 0.03% of its portfolio in the stock. Canada Pension Plan Invest Board accumulated 1.18M shares or 0.02% of the stock. Convergence Inv Ptnrs Ltd Liability Corp has 211,410 shares for 0.15% of their US portfolio. The Pennsylvania-based Sei has invested 0% in Pier 1 Imports Inc (NYSE:PIR). First Heartland Consultants holds 0.05% or 93,900 shares in its portfolio. Renaissance Technology Limited Liability Corporation, a New York-based fund reported 2.49 million shares. Barclays Public Ltd Com last reported 8,669 shares in the company. Ladenburg Thalmann Finance Svcs accumulated 3,603 shares or 0% of the stock. Exane Derivatives reported 1 shares or 0% of all its holdings. Verition Fund Mgmt Lc accumulated 16,538 shares or 0.01% of the stock. Jpmorgan Chase And holds 6.02 million shares or 0.01% of its portfolio.

More important recent Pier 1 Imports Inc (NYSE:PIR) news were published by: Fortune.com which released: “Pier 1 Says Its CEO Will Step Down” on September 08, 2016, also Fool.com published article titled: “Can Pier 1 Imports Keep Going After Last Week’s 11% Pop?”, Businesswire.com published: “Pier 1 Imports, Inc. Updates Third Quarter Fiscal 2017 Financial Guidance” on November 14, 2016. More interesting news about Pier 1 Imports Inc (NYSE:PIR) was released by: Fool.com and their article: “Why Pier 1 Imports Inc Stock Spiked Today” with publication date: September 29, 2016.

PIR Company Profile

Pier 1 Imports, Inc., incorporated on April 30, 1986, is an importer of home decor and furniture. The Company’s activities 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 Firm operates approximately 950 stores in the United States, over 80 stores in Canada and an e-commerce Website, Pier1.com. The Company’s stores in the United States and Canada average approximately 9,900 gross square feet, which includes an average of approximately 7,900 square feet of retail selling space. The stores are located in freestanding units near shopping centers or malls and in-line positions in shopping centers. It operates in all the United States and Canadian metropolitan areas, and in primary smaller markets.

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