Towle & Co. Has $28.23 Million Holdings in Pier 1 Imports (PIR)

Towle & Co. raised its holdings in shares of Pier 1 Imports (NYSE:PIR) by 78.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,765,415 shares of the specialty retailer’s stock after purchasing an additional 3,863,625 shares during the period. Pier 1 Imports accounts for 3.0% of Towle & Co.’s portfolio, making the stock its 14th largest position. Towle & Co. owned approximately 10.56% of Pier 1 Imports worth $28,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paradigm Capital Management Inc. NY increased its stake in shares of Pier 1 Imports by 1,260.2% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 557,700 shares of the specialty retailer’s stock valued at $2,309,000 after purchasing an additional 516,700 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Pier 1 Imports by 47.1% during the third quarter. Wells Fargo & Company MN now owns 106,188 shares of the specialty retailer’s stock valued at $444,000 after purchasing an additional 34,010 shares in the last quarter. AXA increased its stake in shares of Pier 1 Imports by 68.1% during the fourth quarter. AXA now owns 491,800 shares of the specialty retailer’s stock valued at $2,036,000 after purchasing an additional 199,200 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Pier 1 Imports during the fourth quarter valued at approximately $681,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Pier 1 Imports during the fourth quarter valued at approximately $453,000. 85.98% of the stock is owned by institutional investors and hedge funds.

NYSE:PIR opened at $2.16 on Tuesday. Pier 1 Imports has a 52 week low of $2.16 and a 52 week high of $2.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.87 and a current ratio of 2.34. The company has a market cap of $180.04 million, a PE ratio of 10.33 and a beta of 1.50.

Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, April 18th. The specialty retailer reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Pier 1 Imports had a net margin of 0.65% and a return on equity of 6.17%. The firm had revenue of $512.23 million for the quarter, compared to analysts’ expectations of $537.62 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. equities analysts predict that Pier 1 Imports will post -0.33 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Pier 1 Imports from $3.50 to $2.25 and set an “underweight” rating for the company in a research note on Friday, April 20th. ValuEngine downgraded shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Tuesday, April 24th. Loop Capital cut their price target on shares of Pier 1 Imports from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Thursday, April 19th. Finally, Telsey Advisory Group cut their price target on shares of Pier 1 Imports from $4.00 to $3.50 and set a “market perform” rating on the stock in a report on Friday, April 20th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $3.72.

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.

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

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