Janney Montgomery Scott LLC Invests $177,000 in Pier 1 Imports, Inc. (PIR)

Janney Montgomery Scott LLC purchased a new stake in shares of Pier 1 Imports, Inc. (NYSE:PIR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,675 shares of the specialty retailer’s stock, valued at approximately $177,000.

Several other hedge funds have also added to or reduced their stakes in PIR. FNY Partners Fund LP purchased a new position in shares of Pier 1 Imports during the fourth quarter worth $124,000. Pacad Investment Ltd. acquired a new stake in shares of Pier 1 Imports during the fourth quarter worth $188,000. Boothbay Fund Management LLC raised its stake in shares of Pier 1 Imports by 48.4% in the fourth quarter. Boothbay Fund Management LLC now owns 23,630 shares of the specialty retailer’s stock worth $202,000 after buying an additional 7,707 shares in the last quarter. Bayesian Capital Management LP raised its stake in shares of Pier 1 Imports by 108.8% in the fourth quarter. Bayesian Capital Management LP now owns 35,700 shares of the specialty retailer’s stock worth $305,000 after buying an additional 18,600 shares in the last quarter. Finally, Ellington Management Group LLC purchased a new stake in Pier 1 Imports during the fourth quarter valued at $326,000. 87.13% of the stock is currently owned by hedge funds and other institutional investors.

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

Pier 1 Imports, Inc. (NYSE:PIR) traded down 0.18% during midday trading on Monday, reaching $5.52. The company had a trading volume of 1,439,762 shares. The stock has a market capitalization of $444.20 million, a PE ratio of 14.92 and a beta of 1.71. The firm’s 50 day moving average is $5.76 and its 200 day moving average is $6.91. Pier 1 Imports, Inc. has a 1-year low of $3.73 and a 1-year high of $9.68.

Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings results on Wednesday, April 12th. The specialty retailer reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $528.40 million for the quarter, compared to analyst estimates of $529.43 million. Pier 1 Imports had a net margin of 1.65% and a return on equity of 12.99%. Pier 1 Imports’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. On average, equities analysts anticipate that Pier 1 Imports, Inc. will post $0.49 EPS for the current fiscal year.

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A number of research analysts have issued reports on PIR shares. Zacks Investment Research upgraded Pier 1 Imports from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a research note on Friday, March 3rd. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Pier 1 Imports in a research report on Tuesday, March 7th. Jefferies Group LLC reiterated a “hold” rating on shares of Pier 1 Imports in a research report on Thursday, March 16th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Pier 1 Imports in a report on Thursday, April 13th. Finally, BTIG Research reaffirmed a “sell” rating and issued a $3.50 price objective on shares of Pier 1 Imports in a research note on Friday, April 14th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.82.

Pier 1 Imports Company 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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