Noteworthy Price Action: Pier 1 Imports Inc Can’t Burn Your Long Portfolio. Has Another Strong Session

Noteworthy Price Action: Pier 1 Imports Inc Can't Burn Your Long Portfolio. Has Another Strong Session

The stock of Pier 1 Imports Inc (NYSE:PIR) is a huge mover today! About 926,547 shares traded hands. Pier 1 Imports Inc (NYSE:PIR) has declined 14.42% since March 2, 2016 and is downtrending. It has underperformed by 22.68% the S&P500.
The move comes after 8 months positive chart setup for the $389.44M company. It was reported on Oct, 5 by Barchart.com. We have $6.01 PT which if reached, will make NYSE:PIR worth $120.73 million more.

Pier 1 Imports Inc (NYSE:PIR) Ratings Coverage

Out of 17 analysts covering Pier 1 Imports (NYSE:PIR), 4 rate it a “Buy”, 4 “Sell”, while 9 “Hold”. This means 24% are positive. Pier 1 Imports has been the topic of 28 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, January 27 by KeyBanc Capital Markets. On Thursday, October 8 the stock rating was initiated by Jefferies with “Hold”. The stock has “Hold” rating given by Zacks on Tuesday, August 25. On Friday, September 25 the stock rating was maintained by Credit Agricole with “Outperform”. Johnson Rice downgraded Pier 1 Imports Inc (NYSE:PIR) on Thursday, December 17 to “Hold” rating. The stock of Pier 1 Imports Inc (NYSE:PIR) has “Buy” rating given on Tuesday, May 24 by Topeka Capital Markets. The firm has “Market Perform” rating by Telsey Advisory Group given on Tuesday, December 15. The firm earned “Market Perform” rating on Thursday, June 30 by Telsey Advisory Group. The firm earned “Sell” rating on Monday, November 9 by UBS. Deutsche Bank maintained the shares of PIR in a report on Friday, September 25 with “Hold” rating.

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.”

Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.54, from 0.85 in 2016Q1. The ratio improved, as 18 funds sold all Pier 1 Imports Inc shares owned while 53 reduced positions. 45 funds bought stakes while 54 increased positions. They now own 80.87 million shares or 10.40% more from 73.25 million shares in 2016Q1.
New York State Common Retirement Fund holds 77,000 shares or 0% of its portfolio. Kcg Incorporated has 35,108 shares for 0% of their US portfolio. Susquehanna International Llp holds 0% or 327,965 shares in its portfolio. Teachers last reported 0% of its portfolio in the stock. Moreover, Gotham Asset Mgmt Ltd Liability Corporation has 0.03% invested in Pier 1 Imports Inc (NYSE:PIR) for 452,539 shares. Menta Capital Limited Liability owns 47,300 shares or 0.03% of their US portfolio. Lsv Asset Mngmt has invested 0% of its portfolio in Pier 1 Imports Inc (NYSE:PIR). Princeton Alpha Mgmt L P has 27,894 shares for 0.03% of their US portfolio. Tyvor Cap Lc accumulated 333,954 shares or 0.55% of the stock. Stevens Cap Mngmt Lp, a Pennsylvania-based fund reported 26,446 shares. Verition Fund Mgmt Limited Com last reported 16,538 shares in the company. California State Teachers Retirement Sys last reported 169,806 shares in the company. Bnp Paribas Arbitrage Sa last reported 32,467 shares in the company. The Missouri-based Towle And has invested 1.97% in Pier 1 Imports Inc (NYSE:PIR). Metropolitan Life Ins Ny has 67,722 shares for 0% of their US portfolio.

More notable recent Pier 1 Imports Inc (NYSE:PIR) news were published by: Seekingalpha.com which released: “Don’t Chase Pier 1 Imports” on October 04, 2016, also Fool.com with their article: “Why Pier 1 Imports Inc Stock Spiked Today” published on September 29, 2016, Fortune.com published: “Pier 1 Says Its CEO Will Step Down” on September 08, 2016. More interesting news about Pier 1 Imports Inc (NYSE:PIR) were released by: Reuters.com and their article: “BRIEF-Pier 1 Imports Inc adopts short-term shareholder rights protection a…” published on September 27, 2016 as well as Investorplace.com‘s news article titled: “3 Stocks to Watch on Thursday: Pier 1 Imports Inc (PIR), Intra-Cellular …” with publication date: September 29, 2016.

PIR Company Profile

Pier 1 Imports, Inc., incorporated on April 30, 1986, is an importer of home decor and furniture. 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 decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Firm operates approximately 950 stores in the United States, over 80 stores in Canada and an e-commerce Website, Pier1.com. The Company’s 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 the United States and Canadian metropolitan areas, and in primary smaller markets.

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