Party City Holdco Inc. (PRTY) Upgraded to “Hold” at Zacks Investment Research
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 analysts have also recently issued research reports about the company. BMO Capital Markets restated a hold rating and issued a $18.00 price objective on shares of Party City Holdco in a report on Friday, November 11th. Goldman Sachs Group, Inc. (The) began coverage on Party City Holdco in a report on Tuesday, October 25th. They issued a neutral rating and a $17.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $18.22.
Party City Holdco (NYSE:PRTY) opened at 14.70 on Friday. Party City Holdco has a 12-month low of $7.53 and a 12-month high of $19.10. The firm has a market cap of $1.76 billion, a PE ratio of 15.06 and a beta of 2.86. The firm has a 50-day moving average price of $15.32 and a 200 day moving average price of $16.23.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company earned $557 million during the quarter, compared to the consensus estimate of $589.84 million. Party City Holdco had a net margin of 5.13% and a return on equity of 14.62%. Party City Holdco’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts forecast that Party City Holdco will post $1.13 EPS for the current year.
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A number of large investors have recently modified their holdings of the company. Neuberger Berman Group LLC increased its stake in shares of Party City Holdco by 64.5% in the second quarter. Neuberger Berman Group LLC now owns 2,824,340 shares of the company’s stock valued at $39,287,000 after buying an additional 1,107,618 shares during the period. Vanguard Group Inc. increased its stake in shares of Party City Holdco by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,692,880 shares of the company’s stock valued at $23,548,000 after buying an additional 45,524 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Party City Holdco during the third quarter valued at about $28,694,000. Peregrine Capital Management LLC bought a new stake in shares of Party City Holdco during the third quarter valued at about $21,601,000. Finally, Elk Creek Partners LLC increased its stake in shares of Party City Holdco by 14.8% in the second quarter. Elk Creek Partners LLC now owns 1,042,083 shares of the company’s stock valued at $8,330,000 after buying an additional 134,669 shares during the period. Hedge funds and other institutional investors own 97.10% of the company’s stock.
About Party City Holdco
Party City Holdco Inc is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment 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 throughout the world.
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