Party City Holdco (PRTY) Posts Quarterly Earnings Results, Hits Estimates
Party City Holdco (NYSE:PRTY) posted its quarterly earnings data on Friday. The specialty retailer reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80, Morningstar.com reports. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The business had revenue of $789.60 million during the quarter, compared to analysts’ expectations of $781.30 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Party City Holdco updated its FY18 guidance to $1.76-1.87 EPS.
Party City Holdco (NYSE PRTY) opened at $15.65 on Friday. Party City Holdco has a 12 month low of $9.50 and a 12 month high of $17.05. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. The stock has a market capitalization of $1,867.39, a PE ratio of 12.62, a P/E/G ratio of 0.40 and a beta of 2.37.
Several research firms recently weighed in on PRTY. ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Telsey Advisory Group boosted their price objective on Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Saturday, December 30th. Zacks Investment Research raised Party City Holdco from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. BMO Capital Markets set a $18.00 price objective on Party City Holdco and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Bank of America reissued a “neutral” rating and set a $15.50 price objective (up previously from $13.50) on shares of Party City Holdco in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.25.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in Party City Holdco during the fourth quarter valued at about $191,000. Millennium Management LLC grew its stake in shares of Party City Holdco by 465.1% in the 4th quarter. Millennium Management LLC now owns 226,618 shares of the specialty retailer’s stock valued at $3,161,000 after purchasing an additional 186,519 shares during the period. Two Sigma Securities LLC bought a new stake in shares of Party City Holdco in the 4th quarter valued at approximately $245,000. Two Sigma Investments LP bought a new stake in shares of Party City Holdco in the 4th quarter valued at approximately $1,578,000. Finally, Sapience Investments LLC grew its stake in shares of Party City Holdco by 35.4% in the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock valued at $19,658,000 after purchasing an additional 368,050 shares during the period. Hedge funds and other institutional investors own 83.62% of the company’s stock.
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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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