Party City Holdco (NYSE:PRTY) was downgraded by equities research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Benzinga’s Daily Ratings Newsletter reports. They presently have a $2.50 price target on the specialty retailer’s stock, down from their prior price target of $9.00. Telsey Advisory Group’s target price indicates a potential upside of 6.84% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. Goldman Sachs Group upgraded shares of Party City Holdco from a “neutral” rating to a “buy” rating and reduced their target price for the company from $10.00 to $8.00 in a research note on Wednesday, July 24th. Bank of America set a $10.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley reduced their target price on shares of Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, ValuEngine upgraded shares of Party City Holdco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $7.13.
Shares of NYSE PRTY traded up $0.34 during mid-day trading on Friday, hitting $2.34. The company had a trading volume of 16,622,478 shares, compared to its average volume of 2,024,244. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.23 and a quick ratio of 0.30. The business’s 50-day simple moving average is $6.02 and its 200-day simple moving average is $6.43. Party City Holdco has a 12 month low of $1.98 and a 12 month high of $12.37. The firm has a market cap of $566.62 million, a P/E ratio of 1.47, a PEG ratio of 0.32 and a beta of 1.41.
Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.29). Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The company had revenue of $540.20 million during the quarter, compared to the consensus estimate of $551.73 million. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Party City Holdco will post 1.26 EPS for the current year.
In other Party City Holdco news, CFO Michael A. Correale purchased 24,300 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $4.13 per share, with a total value of $100,359.00. Following the completion of the transaction, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at approximately $472,806.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James M. Harrison purchased 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $4.53 per share, with a total value of $566,250.00. Following the transaction, the chief executive officer now directly owns 114,074 shares of the company’s stock, valued at $516,755.22. The disclosure for this purchase can be found here. Insiders purchased 153,855 shares of company stock valued at $686,514 in the last three months. Company insiders own 6.47% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Thompson Investment Management Inc. raised its position in Party City Holdco by 59.3% in the third quarter. Thompson Investment Management Inc. now owns 846,920 shares of the specialty retailer’s stock worth $4,836,000 after purchasing an additional 315,255 shares in the last quarter. First Trust Advisors LP raised its position in Party City Holdco by 8.3% in the third quarter. First Trust Advisors LP now owns 437,796 shares of the specialty retailer’s stock worth $2,500,000 after purchasing an additional 33,727 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Party City Holdco in the third quarter worth about $571,000. California Public Employees Retirement System raised its position in Party City Holdco by 43.0% in the third quarter. California Public Employees Retirement System now owns 26,077 shares of the specialty retailer’s stock worth $149,000 after purchasing an additional 7,844 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Party City Holdco in the third quarter worth about $256,000.
About Party City Holdco
Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery.
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