Wolfe Research Upgrades Pier 1 Imports Inc to Peer Perform

Brokerage firm Wolfe Research Upgrades its rating on Pier 1 Imports Inc(NYSE:PIR). The shares have been rated Peer Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Wolfe Research was issued on Jun 22, 2016.

In a different note, Longbow Research said it Initiates Coverage on Pier 1 Imports Inc, according to a research note issued on Jun 16, 2016. The shares have been rated ‘Neutral’ by the firm. Topeka Capital said it Initiates Coverage on Pier 1 Imports Inc, according to a research note issued on May 24, 2016. The shares have been rated ‘Buy’ by the firm.

Pier 1 Imports Inc (PIR) shares turned negative on Mondays trading session with the shares closing down -0.36 points or -6.32% at a volume of 54,84,548. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.6. The peak price level was also seen at $5.6 while the days lowest was $5.16. Finally the shares closed at $5.34. The 52-week high of the shares is $13.275 while the 52-week low is $3.76. According to the latest information available, the market cap of the company is $447 M.

Pier 1 Imports Inc(PIR) last announced its earnings results on Dec 16, 2015 for Fiscal Year 2016 and Q3.Company reported revenue of $472.55M. Analysts had an estimated revenue of $492.82M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.12.

Several Insider Transactions has been reported to the SEC. On Apr 17, 2015, Gregory Humenesky (Exec Vice Pres/Human Resources) sold 20,000 shares at $13.32 per share price.Also, 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.

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