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NEW YORK ( TheStreet) -- Pier one Imports (NYSE: PIR) hit a new 52-week high Thursday as it is currently trading at $18.39, above its previous 52-week high of $18.30 with 408,115 shares traded as of 10:40 a.m. ET. Average volume has been two million shares over the past 30 days. Pier one Imports has a market cap of $1.68 billion and is part of the services sector and retail industry. Shares are up 30.9% year to date as of the close of trading on Wednesday. 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 18.8, above the average retail industry P/E ratio of 16.1 and above the S&P 500 P/E ratio of 17.7.