Analysis: Pier 1 Imports Inc (NYSE:PIR) Upside Target Change Today
In a very recent research note issued by Bank of America (Merrill Lynch) on Friday, 11 December, the firm, Pier 1 Imports Inc (NYSE:PIR), had their target PPS lowered to $5.00. Analusts right now have a solid “Underperform” rating on the stock.
From a total of 15 analysts covering Pier 1 Imports (NYSE:PIR) stock, 7 rate it a ”Buy”, 4 a “Sell”, and 9 a ”Hold”. This means that 35% of the ratings are positive. The highest target price is $15 while the lowest target price is $6. The mean of all analyst targets is $10.18 with a 81.97% above today’s ($5.88) stock price. Pier 1 Imports was the topic of 13 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. UBS initiated shares on November 9 with “Sell” rating. Telsey Advisory Group maintained shares with “Market Perform” rating and $10 target share price in a report from a September 25. Deutsche Bank maintained PIR stock in a recent report from September 25 with “Hold” rating. Zacks upgraded the rating on August 25. Zacks has a “Hold” rating and a $11 price target on shares. Finally, Oppenheimer maintained the stock with “Outperform” rating in a report issued on a September 25.
Approximately 2.42M shares of stock traded hands or 51.25% up from the average. Pier 1 Imports Inc (NYSE:PIR) has declined 50.88% since May 8, 2015 and is downtrending. It has underperformed by 47.86% the S&P500.
Analysts await Pier 1 Imports Inc (NYSE:PIR) to reports earnings on December, 17. They expect $0.12 EPS, down 40.00% or $0.08 from last year’s $0.2 per share. PIR’s profit will be $11.23 million for 12.25 P/E if the $0.12 EPS becomes reality. After $0.04 actual EPS reported by Pier 1 Imports Inc for the previous quarter, Wall Street now forecasts 200.00% EPS growth.
The overall sentiment of institutions has decreased to 0.9 in Q2 2015. Its down 0.31, from 1.21 in 2015Q2. The ratio dropped, as 39 institutions have sold all the shares of Pier 1 Imports Inc that they owned while 61 funds have taken shares off the table. 29 funds have purchased shares for the first time while 61 added to their positions. These institutions now hold 80.95 million shares or 8.20% less than the 88.18 million shares they owned in 2015Q2.
The Fund Vnbtrust National Association currently is holding shares equating to 1.65% of its total portfolio in Pier 1 Imports Inc representing a total of 420,850 shares. Another fund,True Bearing Asset Management Lp, is holding a total of 133,147 shares equating to 1.56% of their holdings. Additionally, Irving Magee Investment Management has a 368,429 share stake in Pier 1 Imports Inc which represents 1.32% of their total portfolio. The Fund, Kestrel Investment Management Corp, based out of California, has also built up a stake in the stock, which represents a total of 1.07% of their total portfolio. Finally Skyline Asset Management Lp, a fund which is based in the state of Illinois reported a total holdings of 1.96 million shares.
Pier 1 Imports, Inc. is a global importer of home decor and furniture. The company has a market cap of $550.10 million. 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 furniture, home furnishings, dining and kitchen goods, candles, gifts and other specialty items for the home. It has 8.64 P/E ratio. The Firm operates approximately 984 stores in the United States, 81 stores in Canada and an e-commerce Website.
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.” Get a free copy of the Zacks research report on Pier 1 Imports Inc (PIR).