Wall Street analysts forecast that Party City Holdco Inc (NYSE:PRTY) will report sales of $591.83 million for the current quarter, Zacks reports. Three analysts have made estimates for Party City Holdco’s earnings, with estimates ranging from $587.70 million to $597.90 million. Party City Holdco posted sales of $560.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The company is scheduled to issue its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Party City Holdco will report full-year sales of $2.47 billion for the current year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.58 billion, with estimates ranging from $2.57 billion to $2.59 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Party City Holdco.
Party City Holdco (NYSE:PRTY) last posted its earnings results on Thursday, August 9th. The specialty retailer reported $0.40 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $561.00 million for the quarter, compared to analyst estimates of $560.95 million. During the same quarter in the prior year, the business posted $0.28 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year.
A number of brokerages have issued reports on PRTY. Zacks Investment Research downgraded shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. TheStreet downgraded shares of Party City Holdco from a “b-” rating to a “c” rating in a research report on Thursday, October 11th. ValuEngine downgraded shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. JPMorgan Chase & Co. set a $19.00 price objective on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, Morgan Stanley reduced their price objective 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 investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.33.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the stock in a transaction that occurred 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. Corporate insiders own 6.47% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Party City Holdco by 300.1% during the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after acquiring an additional 4,916 shares during the period. Mount Yale Investment Advisors LLC bought a new position in shares of Party City Holdco during the 1st quarter valued at approximately $145,000. NumerixS Investment Technologies Inc bought a new position in shares of Party City Holdco during the 2nd quarter valued at approximately $183,000. BlueMountain Capital Management LLC bought a new position in shares of Party City Holdco during the 2nd quarter valued at approximately $203,000. Finally, California Public Employees Retirement System bought a new position in shares of Party City Holdco during the 2nd quarter valued at approximately $204,000.
Shares of PRTY stock opened at $11.71 on Thursday. Party City Holdco has a 52-week low of $9.50 and a 52-week high of $16.95. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.34 and a beta of 2.07.
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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