Party City Holdco Inc. (PRTY) Lifted to Buy at Zacks Investment Research
Party City Holdco Inc. (NYSE:PRTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage presently has a $15.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.70% from the company’s current price.
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. “
A number of other equities research analysts also recently commented on PRTY. BidaskClub downgraded Party City Holdco from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. ValuEngine downgraded Party City Holdco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the company a “hold” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.75.
Shares of Party City Holdco (PRTY) opened at 13.80 on Friday. Party City Holdco has a 12-month low of $12.65 and a 12-month high of $18.33. The company has a 50-day moving average of $14.04 and a 200 day moving average of $14.78. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 14.26 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last released its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Party City Holdco had a return on equity of 13.97% and a net margin of 4.97%. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $545.59 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Party City Holdco will post $1.28 earnings per share for the current year.
In other Party City Holdco news, insider Ryan T. Vero acquired 2,921 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $40,017.70. Following the completion of the transaction, the insider now directly owns 2,921 shares of the company’s stock, valued at $40,017.70. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James M. Harrison acquired 65,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $14.50 per share, with a total value of $942,500.00. Following the completion of the transaction, the chief executive officer now directly owns 969 shares of the company’s stock, valued at $14,050.50. The disclosure for this purchase can be found here. Insiders own 5.02% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Party City Holdco by 14.0% in the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 881 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new stake in shares of Party City Holdco in the second quarter valued at approximately $127,000. Tudor Investment Corp ET AL purchased a new stake in shares of Party City Holdco in the first quarter valued at approximately $170,000. Pacad Investment Ltd. increased its position in shares of Party City Holdco by 6.1% in the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Party City Holdco in the first quarter valued at approximately $171,000.
Party City Holdco Company Profile
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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