Party City Holdco Inc. (PRTY) Upgraded by Zacks Investment Research to “Buy”
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 target price 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. “
PRTY has been the topic of several other reports. BidaskClub downgraded shares of Party City Holdco from a hold rating to a sell rating in a research report on Saturday, June 17th. ValuEngine downgraded shares of Party City Holdco from a buy rating to a hold rating in a research 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 research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $16.75.
Party City Holdco (NYSE:PRTY) traded up 1.10% on Friday, reaching $13.80. 820,784 shares of the company traded hands. Party City Holdco has a 12 month low of $12.65 and a 12 month high of $18.33. The company has a 50-day moving average price of $14.04 and a 200-day moving average price of $14.78. The company has a market capitalization of $1.65 billion, a P/E ratio of 14.26 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last issued 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. The firm 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 quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities research analysts expect that Party City Holdco will post $1.28 EPS for the current year.
In other Party City Holdco news, Director Gerald C. Rittenberg sold 70,000 shares of the business’s 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 filing with the SEC, which is available through the SEC website. Also, insider Ryan T. Vero purchased 2,921 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $13.70 per share, for a total transaction of $40,017.70. Following the completion of the transaction, the insider now directly owns 2,921 shares in the company, valued at approximately $40,017.70. The disclosure for this purchase can be found here. 5.02% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in shares of Party City Holdco by 14.0% during the 1st 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. bought a new stake in shares of Party City Holdco during the 2nd quarter worth about $127,000. Tudor Investment Corp ET AL bought a new stake in shares of Party City Holdco during the 1st quarter worth about $170,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Party City Holdco during the 1st quarter worth about $171,000. Finally, Pacad Investment Ltd. raised its position in shares of Party City Holdco by 6.1% during the 2nd 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.
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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