Party City Holdco (PRTY) Releases FY18 Earnings Guidance
Party City Holdco (NYSE:PRTY) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.76-1.87 for the period, compared to the Thomson Reuters consensus estimate of $1.84. The company issued revenue guidance of $2.44-2.49 billion, compared to the consensus revenue estimate of $2.48 billion.
Several analysts recently commented on the stock. ValuEngine downgraded shares of Party City Holdco from a hold rating to a sell rating in a research report on Friday, June 29th. Zacks Investment Research downgraded shares of Party City Holdco from a hold rating to a sell rating in a research report on Friday, July 27th. TheStreet upgraded shares of Party City Holdco from a c rating to a b- rating in a research report on Monday, April 16th. Finally, Bank of America upgraded shares of Party City Holdco from a neutral rating to a buy rating and upped their price target for the company from $17.50 to $20.00 in a research report on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $18.29.
PRTY stock opened at $15.90 on Friday. Party City Holdco has a 12 month low of $9.50 and a 12 month high of $16.95. The firm has a market capitalization of $1.50 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 0.40 and a beta of 2.11. The company has a quick ratio of 0.38, a current ratio of 1.27 and a debt-to-equity ratio of 1.57.
In other Party City Holdco news, Director Gerald C. Rittenberg sold 196,457 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $16.00, for a total value of $3,143,312.00. Following the transaction, the director now directly owns 8,169 shares of the company’s stock, valued at approximately $130,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 12,000,000 shares of the business’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $15.00, for a total transaction of $180,000,000.00. The disclosure for this sale can be found here. Insiders own 6.47% of the company’s stock.
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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