Pier 1 Imports Inc (NYSE:PIR) Short Interest Down 94.2% in June

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Pier 1 Imports Inc (NYSE:PIR) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,177,400 shares, a drop of 94.2% from the May 30th total of 20,451,800 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 188,800 shares, the days-to-cover ratio is currently 6.2 days.

PIR stock traded down $0.04 during mid-day trading on Friday, reaching $6.20. The company had a trading volume of 105,341 shares, compared to its average volume of 285,602. The company has a debt-to-equity ratio of 83.80, a current ratio of 0.97 and a quick ratio of 0.22. The stock’s 50 day moving average is $3.88. The company has a market capitalization of $26.57 million, a P/E ratio of -0.13 and a beta of 3.76. Pier 1 Imports has a 52 week low of $5.60 and a 52 week high of $45.60.

Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, June 26th. The specialty retailer reported ($19.97) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($13.00) by ($6.97). The company had revenue of $314.32 million during the quarter, compared to the consensus estimate of $315.40 million. Pier 1 Imports had a negative net margin of 16.85% and a negative return on equity of 217.70%. During the same quarter in the prior year, the business earned ($0.36) earnings per share. As a group, equities analysts expect that Pier 1 Imports will post -42.58 EPS for the current fiscal year.

A number of research analysts recently issued reports on PIR shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Gordon Haskett upgraded Darden Restaurants from an “underperform” rating to a “hold” rating in a report on Thursday, March 21st. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Pier 1 Imports currently has a consensus rating of “Hold” and a consensus price target of $1.31.

A number of hedge funds have recently bought and sold shares of PIR. Rhumbline Advisers grew its stake in Pier 1 Imports by 36.1% in the fourth quarter. Rhumbline Advisers now owns 119,399 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 31,666 shares in the last quarter. SG Americas Securities LLC grew its stake in Pier 1 Imports by 1,033.7% in the fourth quarter. SG Americas Securities LLC now owns 130,136 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 118,657 shares in the last quarter. California Public Employees Retirement System grew its stake in Pier 1 Imports by 4.6% in the fourth quarter. California Public Employees Retirement System now owns 568,039 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 24,839 shares in the last quarter. BlackRock Inc. grew its stake in Pier 1 Imports by 2.7% in the fourth quarter. BlackRock Inc. now owns 5,511,193 shares of the specialty retailer’s stock valued at $1,686,000 after purchasing an additional 142,741 shares in the last quarter. Finally, Stone Ridge Asset Management LLC grew its stake in Pier 1 Imports by 32.8% in the fourth quarter. Stone Ridge Asset Management LLC now owns 162,991 shares of the specialty retailer’s stock valued at $50,000 after purchasing an additional 40,249 shares in the last quarter.

Pier 1 Imports Company Profile

Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.

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