Pier 1 Imports (PIR) : Analyst Rating Update

Pier 1 Imports (PIR) : Zacks Investment Research ranks Pier 1 Imports (PIR) as 4, which is a Sell recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 8 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 2.88, which indicates as a Hold.

Pier 1 Imports (PIR) : The most positive equity analysts on Pier 1 Imports (PIR) expects the shares to touch $12, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $6.62 with an expected fluctuation of $2.31 from the mean.

Pier 1 Imports (NYSE:PIR): The stock opened at $5.30 on Wednesday but the bulls could not build on the opening and the stock topped out at $5.45 for the day. The stock traded down to $5.17 during the day, due to lack of any buying support eventually closed down at $5.33 with a loss of -0.56% for the day. The stock had closed at $5.36 on the previous day. The total traded volume was 2,318,965 shares.

Also, Equity analysts at the Brokerage firm Wolfe Research upgrades its rating on Pier 1 Imports (NYSE:PIR). The rating major has initiated the coverage with peer perform rating on the shares. Earlier, the shares were rated a Underperform by the brokerage firm. The rating by the firm was issued on June 22, 2016. The company shares have dropped -56.74% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $13.58 and the one year low was seen on Jan 28, 2016. The 50-Day Moving Average price is $5.52 and the 200 Day Moving Average price is recorded at $5.55.

Pier 1 Imports, Inc. is a global importer of home decor and furniture. The Companys operations 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. The Company operates approximately 984 stores in the United States, 81 stores in Canada and an e-commerce Website. Its 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 United States and Canadian metropolitan areas and in primary smaller markets. The Companys categories of merchandise include decorative accessories and furniture.

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