Party City Holdco (PRTY) Lifted to Hold at Zacks Investment Research

Party City Holdco (NYSE:PRTY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

PRTY has been the topic of a number of other reports. ValuEngine lowered Party City Holdco from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. Deutsche Bank set a $12.00 target price on Party City Holdco and gave the company a “buy” rating in a research report on Friday, November 9th. 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. Barclays raised Party City Holdco from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Friday, November 9th. Finally, Telsey Advisory Group cut their target price on Party City Holdco from $19.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $17.33.

Party City Holdco stock opened at $11.67 on Thursday. The company has a market cap of $1.13 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.32 and a beta of 2.11. The company has a current ratio of 1.30, a quick ratio of 0.36 and a debt-to-equity ratio of 1.63. Party City Holdco has a one year low of $8.24 and a one year high of $16.95.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). Party City Holdco had a return on equity of 14.86% and a net margin of 8.70%. The company had revenue of $553.00 million for the quarter, compared to analyst estimates of $591.77 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that Party City Holdco will post 1.62 EPS for the current year.

In related news, Director Gerald C. Rittenberg sold 50,000 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total transaction of $704,000.00. Following the sale, 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 accessible through this hyperlink. Also, Director William S. Creekmuir purchased 5,700 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average cost of $11.45 per share, for a total transaction of $65,265.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 158,058 shares of company stock worth $1,609,075. Corporate insiders own 6.47% of the company’s stock.

Several hedge funds have recently bought and sold shares of PRTY. Legal & General Group Plc grew its stake in Party City Holdco by 67.1% during the 3rd quarter. Legal & General Group Plc now owns 8,707 shares of the specialty retailer’s stock worth $118,000 after buying an additional 3,497 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Party City Holdco during the 3rd quarter worth $119,000. Commonwealth Bank of Australia bought a new position in Party City Holdco during the 3rd quarter worth $130,000. Tower Research Capital LLC TRC grew its stake in Party City Holdco by 1,963.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,171 shares of the specialty retailer’s stock worth $138,000 after buying an additional 9,678 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Party City Holdco during the 3rd quarter worth $154,000.

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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