Party City Holdco Inc. (NYSE:PRTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, August 5th. The brokerage currently has a $16.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.88% from the stock’s current price.
According to Zacks, “Party City Holdco Inc. is involved in designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery. It also operates specialty retail party supply stores primarily in the United States and Canada. Party City Holdco Inc. is based in Elmsford, New York. “
Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Party City Holdco from a “d+” rating to a “c-” rating in a research note on Tuesday, April 11th. BidaskClub cut Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. ValuEngine cut Party City Holdco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price objective on Party City Holdco and gave the company a “hold” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Party City Holdco presently has a consensus rating of “Hold” and an average price target of $17.00.
Shares of Party City Holdco (NYSE:PRTY) opened at 14.05 on Friday. The firm’s 50-day moving average is $14.66 and its 200 day moving average is $14.92. Party City Holdco has a 52-week low of $12.65 and a 52-week high of $18.82. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 14.51 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $545.59 million. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. On average, equities research analysts anticipate that Party City Holdco will post $1.28 earnings per share for the current year.
In related news, insider Ryan T. Vero purchased 2,921 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $40,017.70. Following the completion of the transaction, the insider now directly owns 2,921 shares in the company, valued at approximately $40,017.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerald C. Rittenberg sold 70,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $14.68, for a total value of $1,027,600.00. The disclosure for this sale can be found here. Corporate insiders own 5.02% of the company’s stock.
Several large investors have recently made changes to their positions in PRTY. Legal & General Group Plc boosted its stake in shares of Party City Holdco by 14.0% in the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 881 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new stake in shares of Party City Holdco during the second quarter valued at $127,000. Highbridge Capital Management LLC boosted its stake in shares of Party City Holdco by 380.9% in the fourth quarter. Highbridge Capital Management LLC now owns 11,518 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 15,618 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Party City Holdco during the first quarter valued at $170,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Party City Holdco during the first quarter valued at $171,000.
Party City Holdco Company Profile
Party City Holdco Inc is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc (PCHI).
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