Several other equities analysts have also recently commented on the stock. Telsey Advisory Group decreased their price target on shares of Party City Holdco from $19.00 to $15.00 and set an outperform rating for the company in a research report on Friday. Barclays raised shares of Party City Holdco from an equal weight rating to an overweight rating and set a $16.00 price target for the company in a research report on Friday. ValuEngine cut shares of Party City Holdco from a sell rating to a strong sell rating in a research report on Monday, October 29th. TheStreet cut shares of Party City Holdco from a b- rating to a c rating in a research report on Thursday, October 11th. Finally, Morgan Stanley decreased their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $17.33.
Shares of NYSE:PRTY traded up $0.06 during mid-day trading on Friday, reaching $10.06. 4,667,084 shares of the company were exchanged, compared to its average volume of 1,998,955. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 1.27. Party City Holdco has a 1 year low of $8.24 and a 1 year high of $16.95. The stock has a market capitalization of $966.70 million, a P/E ratio of 8.38, a PEG 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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The business had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $591.77 million. During the same period in the prior year, the business earned $0.13 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts forecast that Party City Holdco will post 1.63 earnings per share for the current fiscal year.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total value of $704,000.00. Following the sale, the director now directly owns 3,800 shares in the company, valued at approximately $53,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total transaction of $155,000,000.00. The disclosure for this sale can be found here. Company insiders own 6.47% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Party City Holdco by 300.1% in the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 4,916 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Party City Holdco by 13.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 194,711 shares of the specialty retailer’s stock valued at $2,970,000 after purchasing an additional 23,320 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of Party City Holdco in the 2nd quarter valued at $1,659,000. Raymond James & Associates acquired a new stake in shares of Party City Holdco in the 2nd quarter valued at $476,000. Finally, Game Creek Capital LP raised its stake in Party City Holdco by 33.4% during the 2nd quarter. Game Creek Capital LP now owns 65,100 shares of the specialty retailer’s stock worth $993,000 after acquiring an additional 16,300 shares in the last quarter.
Party City Holdco Company Profile
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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