Party City Holdco (NYSE:PRTY) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Party City Holdco (NYSE:PRTY) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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 a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Party City Holdco from $11.00 to $8.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Goldman Sachs Group raised shares of Party City Holdco from a neutral rating to a buy rating and decreased their target price for the company from $10.00 to $8.00 in a research report on Wednesday, July 24th. Morgan Stanley decreased their target price on shares of Party City Holdco from $13.00 to $5.00 and set an equal weight rating on the stock in a research report on Friday, August 16th. 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 report on Friday, August 23rd. Finally, ValuEngine raised shares of Party City Holdco from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Party City Holdco currently has an average rating of Hold and an average price target of $9.64.

NYSE PRTY traded up $0.34 during trading hours on Tuesday, reaching $2.34. The company had a trading volume of 16,622,478 shares, compared to its average volume of 2,024,244. The stock has a 50-day moving average of $6.02 and a 200 day moving average of $6.43. Party City Holdco has a 1-year low of $1.98 and a 1-year high of $12.37. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $566.62 million, a P/E ratio of 1.47, a price-to-earnings-growth ratio of 0.32 and a beta of 1.41.

Party City Holdco (NYSE:PRTY) last posted its earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) EPS for the quarter, missing the Zacks’ 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 analyst estimates of $551.73 million. During the same period in the previous year, the company earned $0.08 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. 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, CEO James M. Harrison purchased 125,000 shares of Party City Holdco stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $4.53 per share, with a total value of $566,250.00. Following the completion of the transaction, the chief executive officer now owns 114,074 shares of the company’s stock, valued at $516,755.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael A. Correale purchased 24,300 shares of Party City Holdco stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the transaction, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at approximately $472,806.53. The disclosure for this purchase can be found here. Insiders have bought 153,855 shares of company stock worth $686,514 in the last three months. Corporate insiders own 6.47% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PRTY. UBS Group AG lifted its position in shares of Party City Holdco by 791.8% during the second quarter. UBS Group AG now owns 1,272,108 shares of the specialty retailer’s stock worth $9,325,000 after purchasing an additional 1,129,462 shares in the last quarter. Thompson Investment Management Inc. lifted its position in shares of Party City Holdco by 59.3% during 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. Sapience Investments LLC lifted its position in shares of Party City Holdco by 31.2% during the second quarter. Sapience Investments LLC now owns 1,028,450 shares of the specialty retailer’s stock worth $7,539,000 after purchasing an additional 244,400 shares in the last quarter. Clearline Capital LP lifted its position in shares of Party City Holdco by 64.5% during the second quarter. Clearline Capital LP now owns 604,607 shares of the specialty retailer’s stock worth $4,432,000 after purchasing an additional 236,955 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Party City Holdco during the third quarter worth about $571,000.

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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