BMO Capital Markets Reiterates Hold Rating for Party City Holdco Inc. (PRTY)
Party City Holdco Inc. (NYSE:PRTY)‘s stock had its “hold” rating restated by equities researchers at BMO Capital Markets in a research note issued to investors on Friday. They currently have a $18.00 price objective on the stock. BMO Capital Markets’ price objective indicates a potential upside of 10.09% from the company’s current price.
A number of other brokerages also recently commented on PRTY. TheStreet upgraded Party City Holdco from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Telsey Advisory Group upped their target price on Party City Holdco from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. upped their target price on Party City Holdco from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. upped their target price on Party City Holdco from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Finally, Morgan Stanley restated a “hold” rating and set a $17.00 target price on shares of Party City Holdco in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.00.
Party City Holdco (NYSE:PRTY) opened at 16.35 on Friday. The company has a market capitalization of $1.95 billion, a PE ratio of 16.75 and a beta of 3.11. Party City Holdco has a 52 week low of $7.53 and a 52 week high of $19.10. The firm’s 50-day moving average price is $16.55 and its 200 day moving average price is $15.54.
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. Party City Holdco had a net margin of 5.13% and a return on equity of 14.62%. The company earned $557 million during the quarter, compared to the consensus estimate of $589.84 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts expect that Party City Holdco will post $1.19 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in PRTY. Neuberger Berman Group LLC boosted its stake in 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 worth $39,287,000 after buying an additional 1,107,618 shares in the last quarter. Jennison Associates LLC boosted its stake in Party City Holdco by 1.9% in the second quarter. Jennison Associates LLC now owns 1,653,003 shares of the company’s stock worth $22,993,000 after buying an additional 30,755 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Party City Holdco during the second quarter worth approximately $277,000. California State Teachers Retirement System boosted its stake in Party City Holdco by 6.1% in the second quarter. California State Teachers Retirement System now owns 56,486 shares of the company’s stock worth $786,000 after buying an additional 3,231 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Party City Holdco by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 95,267 shares of the company’s stock worth $1,325,000 after buying an additional 7,593 shares in the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.
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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