Vetr Downgrades Pier 1 Imports (PIR) to Buy

Pier 1 Imports (NYSE:PIR) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They presently have a $3.79 price objective on the specialty retailer’s stock. Vetr‘s price objective points to a potential upside of 10.50% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Loop Capital set a $4.00 target price on shares of Pier 1 Imports and gave the stock a “hold” rating in a research report on Thursday, December 14th. ValuEngine raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Telsey Advisory Group reissued a “market perform” rating on shares of Pier 1 Imports in a research report 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 for the company. in a research report on Thursday, December 14th. Seven research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $4.40.

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Shares of PIR stock opened at $3.43 on Thursday. Pier 1 Imports has a 12 month low of $2.87 and a 12 month high of $7.45. The company has a current ratio of 2.14, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $290.05, a price-to-earnings ratio of 7.80, a PEG ratio of -5.70 and a beta of 1.47.

In other Pier 1 Imports news, major shareholder & Co Towle acquired 32,900 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $3.09 per share, with a total value of $101,661.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 45,430 shares of company stock valued at $141,497. Insiders own 5.58% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Pier 1 Imports by 0.5% during the 4th quarter. BlackRock Inc. now owns 5,600,050 shares of the specialty retailer’s stock valued at $23,184,000 after buying an additional 26,539 shares during the last quarter. Towle & Co. grew its position 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 valued at $20,293,000 after buying an additional 3,354,913 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Pier 1 Imports by 11.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,610,081 shares of the specialty retailer’s stock valued at $6,666,000 after buying an additional 170,701 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Pier 1 Imports by 16.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,251,926 shares of the specialty retailer’s stock valued at $5,182,000 after buying an additional 175,722 shares during the last quarter. Finally, Spark Investment Management LLC grew its position 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 valued at $3,796,000 after buying an additional 639,700 shares during the last quarter. 77.56% of the stock is owned by institutional investors and hedge funds.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Pier 1 Imports (NYSE:PIR)

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