Party City Holdco Inc. (NYSE:PRTY) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Party City Holdco Inc. (NYSE:PRTY) have been given an average recommendation of “Hold” by the eleven analysts that are covering the company. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.14.
PRTY has been the topic of a number of analyst reports. Zacks Investment Research raised Party City Holdco from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, August 9th. Goldman Sachs Group Inc. lifted their target price on Party City Holdco from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. TheStreet upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Telsey Advisory Group lifted their price target on Party City Holdco from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on Party City Holdco from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th.
Shares of Party City Holdco (NYSE:PRTY) traded up 1.36% during mid-day trading on Monday, hitting $17.89. The company had a trading volume of 435,457 shares. Party City Holdco has a 52-week low of $7.53 and a 52-week high of $19.10. The stock’s 50-day moving average is $17.01 and its 200-day moving average is $15.25. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 34.21 and a beta of 3.13.
Party City Holdco (NYSE:PRTY) last announced its earnings results on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. Party City Holdco had a return on equity of 14.94% and a net margin of 2.77%. The business had revenue of $519.40 million for the quarter, compared to analyst estimates of $521.07 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that Party City Holdco will post $1.23 earnings per share for the current year.
In related news, CEO James M. Harrison bought 20,969 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $376,183.86. Following the completion of the purchase, the chief executive officer now directly owns 20,969 shares in the company, valued at approximately $376,183.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.91% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new position in shares of Party City Holdco during the second quarter worth approximately $1,781,000. Schwab Charles Investment Management Inc. increased its position in shares of Party City Holdco by 15.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 82,297 shares of the company’s stock valued at $1,145,000 after buying an additional 10,960 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Party City Holdco during the second quarter valued at about $1,005,000. Elk Creek Partners LLC increased its position 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 $14,495,000 after buying an additional 134,669 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Party City Holdco by 1.3% in the second quarter. Cubist Systematic Strategies LLC now owns 10,504 shares of the company’s stock valued at $146,000 after buying an additional 131 shares in the last quarter. Institutional investors own 95.77% of the company’s stock.
Party City Holdco Company Profile
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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