Pier 1 Imports, Inc. (PIR): Why Is It Down -7.52 Percent Today

The biggest losers of the session on the Wall Street include Pier 1 Imports, Inc. (NYSE:PIR), which fell -0.05 points or -7.52% to trade at $0.6 as last check. The stock closed last session at $0.65 and sets an active trading volume day with a reported 763759 contracts so far this session. PIR shares had a relatively better volume day versus average trading capacity of 3.51 million shares, but with a 80 million float and a -25.21% run over a week, it’s definitely worth keeping an eye on. PIR share price has been trading recently between $0.64 and $0.6843.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Thasos Launches QStreams, Offering Quantitative Hedge Funds Unprecedented Insight Into Consumer Foot Traffic” and dated May 20, 2019.

During the recent trading session for Pier 1 Imports, Inc. (NYSE:PIR), the company witnessed their stock drop by $-0.23 over a week and surge $0.06 from the price 20 days ago. When compared to their established 52-week high of $3.14, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/22/18. The recent low of $0.28 stood for a -81% since 12/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 4.17 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Pier 1 Imports, Inc., the two-week RSI stands at 35.51. This figure suggests that PIR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PIR readings is similarly very revealing as it has a stochastic reading of 7.21% at this stage. This figure means that PIR share price today is being overbought.

Technical chart claims that Pier 1 Imports, Inc. (PIR) would settle between $0.67/share to $0.7/share level. However, if the stock price goes below the $0.63 mark, then the market for Pier 1 Imports, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.61 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.12. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Gordon Haskett lowered their recommendation on shares of PIR from Hold to Underperform in their opinion released on March 21. Gordon Haskett analysts bumped their rating on Pier 1 Imports, Inc. (NYSE:PIR) stock from Underperform to Hold in a separate flash note issued to investors on January 08. Analysts at Argus lowered the stock to a Sell call from its previous Hold recommendation, in a research note that dated back to November 12.

PIR equity has an average rating of 3.5, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated Pier 1 Imports, Inc. (NYSE:PIR) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, PIR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.19 while for the average stock in the same group, the multiple is 3.29. Pier 1 Imports, Inc. current P/E ratio of 11.4 means it is trading at a discount against its industry’s 28.39. In the past 5 years, this ratio for the stock has been fluctuating between 10.27 and 18.86.

Pier 1 Imports, Inc. (PIR)’s current-quarter revenues are projected to climb by nearly -15.18% to hit $315400, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -10.64% from $1.55 billion to a noteworthy $1.39 billion. At the other end of the current quarter income statement, Pier 1 Imports, Inc. is expected to see its adjusted earnings surge by roughly -80.56% to hit $-0.65 per share. For the fiscal year, PIR’s earnings are projected to climb by roughly 21.54% to hit $-1.93 per share.