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Actionable news in PIR: PIER 1 IMPORTS Inc,

Pier 1 Imports (PIR) Stock Initiated with 'Hold' Rating at Jefferies

NEW YORK (TheStreet) -- Pier 1 Imports (PIR - Get Report) stock was initiated with a "hold" rating at Jefferies.

The firm set a $7.50 price target on the stock.

Pier 1 has experienced more than three years of declining earnings per share revisions because of investment spending, promotions and heavy clearance, handling and fulfillment costs, Jefferies said in a note.

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Further, the company's market share has decreased during the past couple of years amid higher competition, according to Jefferies.

"Bottom line, the home goods and furnishings industry is enjoying healthy growth, but the competitive set is increasing too, resulting in share shifts," the firm said in...


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