Party City Holdco Inc. (NYSE:PRTY) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
PRTY has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Party City Holdco from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price objective (down from $18.00) on shares of Party City Holdco in a research report on Wednesday, March 15th. TheStreet raised shares of Party City Holdco from a “d+” rating to a “c-” rating in a research report on Tuesday, April 11th. Finally, Credit Suisse Group set a $19.00 price objective on shares of Party City Holdco and gave the company a “buy” rating in a research report on Monday, March 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.86.
Party City Holdco (PRTY) traded down 3.16% during trading on Friday, reaching $15.30. 528,809 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $15.92 and its 200-day moving average price is $15.00. Party City Holdco has a 52 week low of $12.50 and a 52 week high of $19.10. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 16.22 and a beta of 2.76.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Party City Holdco had a net margin of 4.92% and a return on equity of 13.81%. The firm had revenue of $477 million for the quarter, compared to the consensus estimate of $476.91 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Party City Holdco will post $1.27 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position 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 worth $101,000 after buying an additional 881 shares during the last quarter. Highbridge Capital Management LLC boosted its stake in 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 worth $163,000 after buying an additional 15,618 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Party City Holdco during the first quarter worth about $170,000. Dynamic Technology Lab Private Ltd acquired a new stake in Party City Holdco during the first quarter worth about $171,000. Finally, PEAK6 Investments L.P. acquired a new stake in Party City Holdco during the first quarter worth about $194,000.
About Party City Holdco
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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