NEW YORK ( TheStreet) -- Pier one Imports (NYSE: PIR) hit a new 52-week high Monday as it is currently trading at $12.79, above its previous 52-week high of $12.75 with 1.6 million shares traded as of 1:55 p.m. ET. Average volume has been 2.3 million shares over the past 30 days.

Pier one Imports has a market cap of $1.3 billion and is part of the services sector and retail industry. Shares are up 15.8% year to date as of the close of trading on Friday.

Pier one Imports, Inc., together with its subsidiaries, operates as an importer and specialty retailer of imported decorative home furnishings and gifts in the United States, Canada, and Mexico. The company has a P/E ratio of 12.5, below the average retail industry P/E ratio of 12.6 and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Pier one Imports as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Pier one Imports Ratings Report.

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