Party City Holdco Inc (NYSE:PRTY) Receives Consensus Rating of “Hold” from Brokerages

Party City Holdco Inc (NYSE:PRTY) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.13.

Several analysts have weighed in on PRTY shares. Bank of America lowered their target price on shares of Party City Holdco from $14.50 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Goldman Sachs Group upgraded shares of Party City Holdco from a “neutral” rating to a “buy” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on shares of Party City Holdco from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Zacks Investment Research lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their target price on shares of Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday.

PRTY stock traded up $0.50 during trading on Friday, hitting $4.71. 2,737,600 shares of the company’s stock traded hands, compared to its average volume of 2,815,871. The company has a quick ratio of 0.28, a current ratio of 1.23 and a debt-to-equity ratio of 2.21. Party City Holdco has a 52 week low of $4.07 and a 52 week high of $15.75. The stock has a fifty day moving average price of $6.14 and a two-hundred day moving average price of $7.99. The stock has a market capitalization of $397.58 million, a price-to-earnings ratio of 2.96, a price-to-earnings-growth ratio of 0.22 and a beta of 1.30.

Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, August 8th. The specialty retailer reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.16). Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The business had revenue of $563.90 million for the quarter, compared to the consensus estimate of $572.14 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts expect that Party City Holdco will post 1.29 EPS for the current fiscal year.

In other news, CEO James M. Harrison purchased 125,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $4.53 per share, for a total transaction of $566,250.00. Following the completion of the transaction, the chief executive officer now owns 114,074 shares of the company’s stock, valued at $516,755.22. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael A. Correale purchased 24,300 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $4.13 per share, with a total value of $100,359.00. Following the transaction, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at approximately $472,806.53. The disclosure for this purchase can be found here. 6.47% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PRTY. Prudential PLC increased its holdings in Party City Holdco by 5.2% in the second quarter. Prudential PLC now owns 1,114,800 shares of the specialty retailer’s stock worth $8,171,000 after buying an additional 54,900 shares during the last quarter. UBS Group AG boosted its position in Party City Holdco by 791.8% during the second quarter. UBS Group AG now owns 1,272,108 shares of the specialty retailer’s stock worth $9,325,000 after purchasing an additional 1,129,462 shares during the period. United Services Automobile Association boosted its position in Party City Holdco by 19.0% during the second quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock worth $148,000 after purchasing an additional 3,220 shares during the period. Zacks Investment Management bought a new stake in Party City Holdco during the second quarter worth approximately $654,000. Finally, UBS Asset Management Americas Inc. boosted its position in Party City Holdco by 10.7% during the second quarter. UBS Asset Management Americas Inc. now owns 48,805 shares of the specialty retailer’s stock worth $358,000 after purchasing an additional 4,732 shares during the period.

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, novelties, gifts, and stationery.

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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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