Party City Holdco Inc. (NYSE:PRTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 equities analysts have also recently issued reports on the company. BidaskClub cut Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. ValuEngine cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 target price on Party City Holdco and gave the stock a “hold” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.75.

Shares of Party City Holdco (NYSE PRTY) traded up 1.10% during trading on Thursday, reaching $13.80. The company’s stock had a trading volume of 820,784 shares. The company has a 50 day moving average price of $14.04 and a 200 day moving average price of $14.78. Party City Holdco has a 52 week low of $12.65 and a 52 week high of $18.33. The firm has a market capitalization of $1.65 billion, a P/E 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $545.59 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Party City Holdco will post $1.28 EPS for the current fiscal year.

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In other news, CEO James M. Harrison purchased 65,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $14.50 per share, for a total transaction of $942,500.00. Following the acquisition, the chief executive officer now directly owns 969 shares in the company, valued at approximately $14,050.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gerald C. Rittenberg sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $14.68, for a total value of $1,027,600.00. The disclosure for this sale can be found here. Insiders own 5.02% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC grew its holdings in shares of Party City Holdco by 0.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock worth $1,097,000 after acquiring an additional 205 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Party City Holdco by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock worth $1,525,000 after acquiring an additional 608 shares during the period. Pacad Investment Ltd. grew its holdings in shares of Party City Holdco by 6.1% in the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after acquiring an additional 700 shares during the period. Legal & General Group Plc grew its holdings in shares of Party City Holdco by 14.0% in the 1st quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 881 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Party City Holdco by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the specialty retailer’s stock worth $392,000 after acquiring an additional 894 shares during the period.

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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