Stocks Hitting 52-Week Lows

Pier 1 Imports PIR shares tumbled 17.86% to reach a new 52-week low of $12.77 after the company reported weaker-than-expected Q2 results and lowered its FY15 forecast. Analysts at Wells Fargo downgraded Pier 1 from Outperform to Market Perform. Peabody Energy BTU shares fell 5.29% to touch a new 52-week low of $13.44 after Goldman Sachs downgraded the stock from Neutral to Sell and lowered the target price from $15 to $13. Marchex MCHX shares dipped 43.67% to reach a new 52-week low of $4.22 after the company lowered its FY14 outlook for call-driven sales. Sears Holdings SHLD shares fell 3.96% to touch a new 52-week low of $28.39. In a note released Thursday morning, Credit Suisse analyst Gary Balter referenced The Doors' song "This is the End" when speaking about Sears Holding. Balter currently rates Sears at Underperform with a $20 price target.