Today, Party City Holdco Inc. (PRTY) Cut to Hold at Zacks Investment Research

Today, Party City Holdco Inc. (PRTY) Cut to Hold at Zacks Investment Research

Party City Holdco Inc. (NYSE:PRTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

Several other research analysts also recently commented on PRTY. Morgan Stanley reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Party City Holdco in a research note on Friday, August 5th. Telsey Advisory Group raised their price objective on Party City Holdco from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. raised their price objective on Party City Holdco from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. TheStreet raised Party City Holdco from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Goldman Sachs Group Inc. raised their price objective on Party City Holdco from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Party City Holdco currently has an average rating of “Hold” and an average price target of $18.00.

10/06/party-city-holdco-inc-prty-cut-to-hold-at-zacks-investment-research.html

Shares of Party City Holdco (NYSE:PRTY) remained flat at $17.49 during mid-day trading on Thursday. 252,931 shares of the company were exchanged. The stock has a market cap of $2.09 billion, a P/E ratio of 33.44 and a beta of 3.13. The company has a 50-day moving average of $17.04 and a 200-day moving average of $15.22. Party City Holdco has a 1-year low of $7.53 and a 1-year high of $19.10.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Party City Holdco had a return on equity of 14.94% and a net margin of 2.77%. The firm had revenue of $519.40 million for the quarter, compared to the consensus estimate of $521.07 million. During the same quarter last year, the company earned $0.12 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts predict that Party City Holdco will post $1.23 earnings per share for the current year.

In other news, CEO James M. Harrison purchased 20,969 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $17.94 per share, for a total transaction of $376,183.86. Following the acquisition, the chief executive officer now directly owns 20,969 shares of the company’s stock, valued at approximately $376,183.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.91% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in Party City Holdco by 64.5% in the second quarter. Neuberger Berman Group LLC now owns 2,824,340 shares of the company’s stock valued at $39,287,000 after buying an additional 1,107,618 shares in the last quarter. Vanguard Group Inc. boosted its position in Party City Holdco by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,692,880 shares of the company’s stock valued at $23,548,000 after buying an additional 45,524 shares in the last quarter. Jennison Associates LLC boosted its position in Party City Holdco by 1.9% in the second quarter. Jennison Associates LLC now owns 1,653,003 shares of the company’s stock valued at $22,993,000 after buying an additional 30,755 shares in the last quarter. Elk Creek Partners LLC boosted its position in Party City Holdco by 14.8% in the second quarter. Elk Creek Partners LLC now owns 1,042,083 shares of the company’s stock valued at $8,330,000 after buying an additional 134,669 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in Party City Holdco by 1.4% in the second quarter. Janus Capital Management LLC now owns 838,320 shares of the company’s stock valued at $11,661,000 after buying an additional 11,398 shares in the last quarter. Institutional investors and hedge funds own 95.77% of the company’s stock.

About Party City Holdco

Party City Holdco Inc is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment 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 throughout the world.

Related posts

Leave a Comment