Pier 1 Imports, Inc. ( PIR ) saw a big move last session, as the company's shares fell by over 13% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading below the volatile price range of $17.12 to $18.26 in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as the home furnishing retailer has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
PIR currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same sector include Haverty Furniture Companies Inc.
), Kirkland's Inc.
) and Restoration Hardware Holdings, Inc.
). All these stocks hold a Zacks Rank #1 (Strong Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportPIER 1 IMPORTS (PIR): Free Stock Analysis ReportHAVERTY FURNIT (HVT): Free Stock Analysis ReportKIRKLANDS INC (KIRK): Free Stock Analysis ReportRESTORATION HDW (RH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research