Party City Holdco (NYSE:PRTY) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued to clients and investors on Thursday.
Several other brokerages have also recently commented on PRTY. ValuEngine raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. JPMorgan Chase & Co. set a $19.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, Morgan Stanley cut their price target on shares of Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Party City Holdco has an average rating of “Hold” and an average price target of $19.33.
NYSE:PRTY traded up $0.04 on Thursday, hitting $11.30. 2,136,456 shares of the company’s stock were exchanged, compared to its average volume of 1,020,396. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.27 and a quick ratio of 0.36. Party City Holdco has a 52 week low of $9.50 and a 52 week high of $16.95. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.34 and a beta of 2.07.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, August 9th. The specialty retailer reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The firm had revenue of $561.00 million for the quarter, compared to analysts’ expectations of $560.95 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts anticipate that Party City Holdco will post 1.83 earnings per share for the current fiscal year.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $14.08, for a total transaction of $704,000.00. Following the transaction, the director now directly owns 3,800 shares in the company, valued at approximately $53,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was 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. 6.47% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in 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 during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Party City Holdco by 20.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the specialty retailer’s stock valued at $456,000 after purchasing an additional 5,008 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Party City Holdco by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 42,407 shares of the specialty retailer’s stock valued at $646,000 after purchasing an additional 5,808 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Party City Holdco by 26.3% in the 1st quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock valued at $516,000 after purchasing an additional 6,878 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in Party City Holdco in the 1st quarter valued at approximately $145,000.
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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