Party City Holdco Inc. (NYSE:PRTY) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Party City Holdco Inc. (NYSE:PRTY) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.14.
A number of equities analysts have issued reports on PRTY shares. Zacks Investment Research raised shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, August 9th. TheStreet raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. 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. Goldman Sachs Group Inc. increased their target price on shares of Party City Holdco from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Finally, Telsey Advisory Group increased their target price on shares of Party City Holdco from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 5th.
Shares of Party City Holdco (NYSE:PRTY) traded up 1.36% during mid-day trading on Monday, reaching $17.89. 435,457 shares of the company’s stock traded hands. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 34.21 and a beta of 3.13. Party City Holdco has a 52 week low of $7.53 and a 52 week high of $19.10. The company’s 50 day moving average is $17.01 and its 200-day moving average is $15.25.
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Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Party City Holdco had a net margin of 2.77% and a return on equity of 14.94%. The firm had revenue of $519.40 million for the quarter, compared to analysts’ expectations of $521.07 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts expect that Party City Holdco will post $1.23 earnings per share for the current fiscal year.
In related news, CEO James M. Harrison acquired 20,969 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average cost of $17.94 per share, for a total transaction of $376,183.86. Following the completion of the acquisition, the chief executive officer now directly owns 20,969 shares in the company, valued at approximately $376,183.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.91% of the company’s stock.
Several large investors have recently modified their holdings of PRTY. Neuberger Berman Group LLC raised its stake in shares of 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 worth $39,287,000 after buying an additional 1,107,618 shares during the last quarter. FMR LLC increased its position in Party City Holdco by 181.9% in the second quarter. FMR LLC now owns 738,800 shares of the company’s stock worth $10,277,000 after buying an additional 476,700 shares during the period. Waddell & Reed Financial Inc. acquired a new position in Party City Holdco during the second quarter worth $4,618,000. Citadel Advisors LLC increased its position in Party City Holdco by 521.8% in the second quarter. Citadel Advisors LLC now owns 245,122 shares of the company’s stock worth $3,410,000 after buying an additional 205,703 shares during the period. Finally, Elk Creek Partners LLC increased 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 worth $8,330,000 after buying an additional 134,669 shares during the period. 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.
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