Party City Holdco Inc. (PRTY) Receives $17.00 Average Price Target from Analysts
Shares of Party City Holdco Inc. (NYSE:PRTY) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $17.00.
A number of research firms have recently weighed in on PRTY. Zacks Investment Research upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, August 5th. BMO Capital Markets set a $16.00 target price on shares of Party City Holdco and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Party City Holdco from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, ValuEngine downgraded shares of Party City Holdco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
Party City Holdco (PRTY) traded down 0.35% during midday trading on Tuesday, hitting $14.15. The company had a trading volume of 168,541 shares. The firm’s 50 day moving average is $14.45 and its 200-day moving average is $14.90. Party City Holdco has a 52 week low of $12.65 and a 52 week high of $18.33. The firm has a market capitalization of $1.69 billion, a P/E ratio of 14.62 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $545.59 million. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. Party City Holdco’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. On average, equities research analysts expect that Party City Holdco will post $1.28 EPS for the current fiscal year.
In related news, Director Gerald C. Rittenberg sold 70,000 shares of Party City Holdco stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $14.68, for a total transaction of $1,027,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan T. Vero purchased 2,921 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average cost of $13.70 per share, with a total value of $40,017.70. Following the completion of the purchase, the insider now owns 2,921 shares in the company, valued at approximately $40,017.70. The disclosure for this purchase can be found here. Insiders own 5.02% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position 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 buying an additional 881 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new position in Party City Holdco during the second quarter worth approximately $127,000. Tudor Investment Corp ET AL purchased a new position in Party City Holdco during the first quarter worth approximately $170,000. Dynamic Technology Lab Private Ltd purchased a new position in Party City Holdco during the first quarter worth approximately $171,000. Finally, Pacad Investment Ltd. boosted its position 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 buying an additional 700 shares in the last quarter.
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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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