Pier 1 Imports Inc (NYSE:PIR) shares fell 6.3% during mid-day trading on Wednesday . The stock traded as low as $0.57 and last traded at $0.60. 52,133 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,852,299 shares. The stock had previously closed at $0.64.

Several research firms have issued reports on PIR. Gordon Haskett cut Pier 1 Imports from a “hold” rating to an “underperform” rating in a research report on Thursday, March 21st. ValuEngine upgraded Pier 1 Imports from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Pier 1 Imports has a consensus rating of “Hold” and an average price target of $1.44.

The stock has a market cap of $50.80 million, a price-to-earnings ratio of -0.24 and a beta of 4.19. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.76 and a quick ratio of 0.47.

Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, April 17th. The specialty retailer reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $412.51 million during the quarter. Analysts forecast that Pier 1 Imports Inc will post -1.93 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Pier 1 Imports by 504.6% during the 1st quarter. AQR Capital Management LLC now owns 4,132,580 shares of the specialty retailer’s stock worth $3,155,000 after purchasing an additional 3,449,052 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in Pier 1 Imports during the 4th quarter worth about $494,000. Charles Schwab Investment Management Inc. increased its position in Pier 1 Imports by 17.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,159,202 shares of the specialty retailer’s stock worth $3,940,000 after purchasing an additional 758,795 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Pier 1 Imports during the 4th quarter worth about $136,000. Finally, Renaissance Technologies LLC increased its position in Pier 1 Imports by 10.9% during the 1st quarter. Renaissance Technologies LLC now owns 3,248,600 shares of the specialty retailer’s stock worth $2,480,000 after purchasing an additional 319,100 shares in the last quarter. Institutional investors and hedge funds own 46.10% of the company’s stock.

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Pier 1 Imports Company Profile (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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