NEW YORK (TheStreet) -- Shares of Pier 1 Imports (PIR) - Get Report  were climbing 8.8% to $4.61 on heavy trading volume late-afternoon Thursday after the home goods retailer reported a narrower-than-expected loss for the fiscal 2017 second quarter. 

After yesterday's market close, Pier 1 posted a loss of 5 cents per share, which was in line with analysts' projections. 

Revenue came in at $405.8 million, below consensus estimates of $407 million in revenue. 

Comparable-store sales declined 4.3% during the period. 

The Fort Worth-based company expects third quarter earnings to be in the range of 9 cents and 15 cents per share. Analysts are looking for earnings of 12 cents per share. 

Fourth-quarter earnings are projected to be between 24 cents per share and 32 cents per share. Wall Street is forecasting earnings of 26 cents per share. 

Additionally, Jefferieslifted Pier 1's price target to $4.50 from $4.25 and maintained its "hold" rating earlier today.

The firm called the company's guidance "achievable" but said Pier 1 must improve its "everyday value proposition" in the retail market.

More than 10.56 million of the company's shares changed hands today vs. its average volume of 2.7 million shares per day.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates Pier 1 Imports as a Hold with a ratings score of C. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: PIR

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