A number of other equities research analysts have also weighed in on the company. ValuEngine lowered Party City Holdco from a hold rating to a sell rating in a research report on Wednesday, September 19th. Morgan Stanley decreased their target price on Party City Holdco from $16.00 to $15.00 and set an equal weight rating for the company in a research report on Thursday, October 11th. TheStreet lowered Party City Holdco from a b- rating to a c rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. set a $19.00 target price on Party City Holdco and gave the company a buy rating in a research report on Monday, October 1st. Finally, Zacks Investment Research lowered Party City Holdco from a hold rating to a sell rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $17.33.
Shares of PRTY stock traded up $0.06 on Friday, reaching $10.06. 4,667,084 shares of the company’s stock were exchanged, compared to its average volume of 1,998,955. Party City Holdco has a 52 week low of $8.24 and a 52 week high of $16.95. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 1.27. The firm has a market capitalization of $966.70 million, a P/E ratio of 8.38, a P/E/G ratio of 0.25 and a beta of 2.19.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). The business had revenue of $553.00 million for the quarter, compared to the consensus estimate of $591.77 million. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. Party City Holdco’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, sell-side analysts forecast that Party City Holdco will post 1.63 EPS for the current year.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $53,504. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $15.50, for a total value of $155,000,000.00. The disclosure for this sale can be found here. Insiders own 6.47% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTY. Laurion Capital Management LP bought a new position in shares of Party City Holdco in the 2nd quarter worth $27,562,000. BlackRock Inc. grew its stake in Party City Holdco by 65.9% during the 3rd quarter. BlackRock Inc. now owns 4,084,707 shares of the specialty retailer’s stock worth $55,347,000 after buying an additional 1,622,584 shares during the last quarter. Jennison Associates LLC grew its stake in Party City Holdco by 56.7% during the 2nd quarter. Jennison Associates LLC now owns 3,484,921 shares of the specialty retailer’s stock worth $53,145,000 after buying an additional 1,261,206 shares during the last quarter. FMR LLC grew its stake in Party City Holdco by 52.4% during the 3rd quarter. FMR LLC now owns 2,617,200 shares of the specialty retailer’s stock worth $35,463,000 after buying an additional 899,800 shares during the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in Party City Holdco during the 2nd quarter worth $9,023,000.
About Party City Holdco
Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations.
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