Pier 1 Imports Inc (PIR) is Downgraded by Credit Suisse to Underperform

Pier 1 Imports Inc (PIR) was Downgraded by Credit Suisse to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Sep 8, 2016.

Many Wall Street Analysts have commented on Pier 1 Imports Inc. Shares were Reiterated by Wedbush on Jun 30, 2016 to “Neutral” and Lowered the Price Target to $ 5 from a previous price target of $6 .Shares were Reiterated by Telsey Advisory Group on Jun 30, 2016 to “Market Perform” and Lowered the Price Target to $ 5 from a previous price target of $6 .Pier 1 Imports Inc was Upgraded by Wolfe Research to ” Peer Perform” on Jun 23, 2016.

On the company’s financial health, Pier 1 Imports Inc reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 29, 2016. Analyst had a consensus of $-0.05. The company had revenue of $418.40 million for the quarter, compared to analysts expectations of $420.11 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Pier 1 Imports Inc opened for trading at $4.66 and hit $4.81 on the upside on Wednesday, eventually ending the session at $4.8, with a gain of 3.23% or 0.15 points. The heightened volatility saw the trading volume jump to 2,981,873 shares. Company has a market cap of $400 M.

In a different news, on Apr 17, 2015, Gregory Humenesky (Exec Vice Pres/Human Resources) sold 20,000 shares at $13.32 per share price. According to the SEC, on Apr 17, 2015, Claire H Babrowski (director) purchased 2,000 shares at $13.24 per share price. On Jan 21, 2015, Michael R Benkel (Exec VP-Planning & Allocations) sold 10,000 shares at $16.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Pier 1 Imports Inc. is a global importer of home decor and furniture. The Company’s 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 9900 gross square feet which includes an average of approximately 7900 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 Company’s categories of merchandise include decorative accessories and furniture.

Pier 1 Imports Inc

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