Party City Holdco (PRTY) Announces Earnings Results
Party City Holdco (NYSE:PRTY) announced its quarterly earnings data on Friday. The specialty retailer reported $0.80 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.80, Morningstar.com reports. The company had revenue of $789.60 million during the quarter, compared to the consensus estimate of $781.30 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. Party City Holdco’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. Party City Holdco updated its FY18 guidance to $1.76-1.87 EPS.
Party City Holdco (PRTY) opened at $15.65 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. Party City Holdco has a 12 month low of $9.50 and a 12 month high of $17.05. The firm has a market cap of $1,867.39, a price-to-earnings ratio of 12.62, a PEG ratio of 0.40 and a beta of 2.37.
PRTY has been the subject of a number of analyst reports. Telsey Advisory Group upped their price objective on shares of Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Saturday, December 30th. Morgan Stanley cut their price objective on shares of Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 14th. JPMorgan Chase & Co. initiated coverage on shares of Party City Holdco in a research report on Monday, November 13th. They set an “overweight” rating and a $14.00 price objective for the company. Bank of America upped their price objective on shares of Party City Holdco from $13.50 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, December 27th. Finally, BMO Capital Markets set a $18.00 price objective on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Party City Holdco has a consensus rating of “Hold” and an average price target of $17.25.
Hedge funds and other institutional investors have recently modified their holdings of the stock. ZWJ Investment Counsel Inc. acquired a new stake in Party City Holdco in the 4th quarter valued at about $167,000. Stone Ridge Asset Management LLC acquired a new stake in Party City Holdco in the 4th quarter valued at about $168,000. SG Americas Securities LLC acquired a new stake in Party City Holdco in the 3rd quarter valued at about $176,000. MetLife Investment Advisors LLC acquired a new stake in Party City Holdco in the 4th quarter valued at about $191,000. Finally, Voya Investment Management LLC acquired a new stake in Party City Holdco in the 2nd quarter valued at about $202,000. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
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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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