Party City Holdco Inc. (PRTY) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Party City Holdco Inc. (NYSE:PRTY) from a hold rating to a buy rating in a research note released on Saturday. The brokerage currently has $15.00 price target on the specialty retailer’s stock.
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. “
Several other equities analysts have also weighed in on PRTY. BidaskClub lowered shares of Party City Holdco from a hold rating to a sell rating in a report on Saturday, June 17th. ValuEngine lowered shares of Party City Holdco from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price objective on shares of Party City Holdco and gave the company a hold rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $16.75.
Party City Holdco (NYSE:PRTY) opened at 13.80 on Friday. The firm has a 50 day moving average price of $14.03 and a 200 day moving average price of $14.78. Party City Holdco has a 12-month low of $12.65 and a 12-month high of $18.33. The company has a market cap of $1.65 billion, a PE ratio of 14.26 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $545.59 million. During the same period in the prior year, the business posted $0.24 earnings per share. Party City Holdco’s revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Party City Holdco will post $1.28 earnings per share for the current fiscal year.
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In other news, CEO James M. Harrison bought 65,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $942,500.00. Following the completion of the acquisition, the chief executive officer now owns 969 shares in the company, valued at approximately $14,050.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan T. Vero bought 2,921 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $40,017.70. Following the completion of the acquisition, the insider now owns 2,921 shares of the company’s stock, valued at approximately $40,017.70. The disclosure for this purchase can be found here. Company insiders own 5.02% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in 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 purchasing an additional 881 shares during the period. Parallax Volatility Advisers L.P. acquired a new stake in Party City Holdco in the second quarter worth $127,000. Tudor Investment Corp ET AL acquired a new stake in Party City Holdco in the first quarter worth $170,000. Pacad Investment Ltd. raised its holdings in Party City Holdco by 6.1% in the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after purchasing an additional 700 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Party City Holdco in the first quarter worth $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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