Prudential Financial Inc. Purchases 184,160 Shares of Pier 1 Imports, Inc. (PIR)

Prudential Financial Inc. increased its position in Pier 1 Imports, Inc. (NYSE:PIR) by 63.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 476,547 shares of the specialty retailer’s stock after acquiring an additional 184,160 shares during the quarter. Prudential Financial Inc. owned about 0.57% of Pier 1 Imports worth $1,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PIR. Vanguard Group Inc. increased its holdings in Pier 1 Imports by 19.3% in the 1st quarter. Vanguard Group Inc. now owns 7,304,924 shares of the specialty retailer’s stock worth $52,303,000 after acquiring an additional 1,179,575 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Pier 1 Imports in the 2nd quarter worth about $2,607,000. Maverick Capital Ltd. purchased a new stake in Pier 1 Imports in the 2nd quarter worth about $2,498,000. Menta Capital LLC purchased a new stake in Pier 1 Imports in the 2nd quarter worth about $1,926,000. Finally, OxFORD Asset Management LLP increased its holdings in Pier 1 Imports by 93.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 554,806 shares of the specialty retailer’s stock worth $2,879,000 after acquiring an additional 268,519 shares during the last quarter. 78.11% of the stock is owned by institutional investors.

Shares of Pier 1 Imports, Inc. (PIR) traded down $0.02 during midday trading on Wednesday, hitting $5.13. The stock had a trading volume of 1,542,500 shares, compared to its average volume of 2,199,290. Pier 1 Imports, Inc. has a 52 week low of $3.96 and a 52 week high of $9.67. The company has a quick ratio of 0.43, a current ratio of 2.23 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $431.52, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of -12.12 and a beta of 1.85.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The company had revenue of $407.61 million during the quarter, compared to analyst estimates of $406.32 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Pier 1 Imports’s revenue was up .4% on a year-over-year basis. analysts anticipate that Pier 1 Imports, Inc. will post 0.43 EPS for the current year.

A number of research analysts have weighed in on the company. Loop Capital reduced their target price on Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Credit Suisse Group reduced their target price on Pier 1 Imports from $4.00 to $3.50 and set an “underperform” rating for the company in a report on Thursday, September 28th. BidaskClub lowered Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Finally, UBS reaffirmed a “sell” rating and set a $3.50 target price (down previously from $4.00) on shares of Pier 1 Imports in a report on Saturday, September 30th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.01.

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Pier 1 Imports Profile

Pier 1 Imports, Inc is an 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 decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.

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Institutional Ownership by Quarter for Pier 1 Imports (NYSE:PIR)

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