Party City Holdco (NYSE:PRTY) released its quarterly earnings data on Friday. The specialty retailer reported $0.80 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80, Morningstar.com reports. The firm had revenue of $789.60 million for the quarter, compared to analyst estimates of $781.30 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Party City Holdco updated its FY18 guidance to $1.76-1.87 EPS.
Shares of Party City Holdco (NYSE:PRTY) traded up $1.10 on Friday, hitting $15.65. 3,293,434 shares of the stock traded hands, compared to its average volume of 592,554. Party City Holdco has a 52 week low of $9.50 and a 52 week high of $17.05. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43. The firm has a market cap of $1,867.39, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.40 and a beta of 2.37.
In related news, Director Gerald C. Rittenberg sold 100,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. The disclosure for this sale can be found here. Insiders sold a total of 22,642,979 shares of company stock worth $277,826,948 over the last quarter. 5.02% of the stock is currently owned by company insiders.
Several research analysts have weighed in on PRTY shares. Zacks Investment Research lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. JPMorgan Chase & Co. began coverage on shares of Party City Holdco in a research note on Monday, November 13th. They set an “overweight” rating and a $14.00 price target on the stock. Morgan Stanley dropped their price target on shares of Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Finally, Telsey Advisory Group increased their price target on shares of Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $17.25.
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About Party City Holdco
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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