Party City Holdco (PRTY) Lowered to Sell at ValuEngine

Party City Holdco (NYSE:PRTY) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase cut shares of Party City Holdco from an “overweight” rating to a “hold” rating and lifted their price objective for the stock from $16.00 to $17.00 in a research note on Monday, March 19th. Zacks Investment Research cut shares of Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Stephens reissued a “buy” rating and issued a $23.00 price objective on shares of Party City Holdco in a research note on Tuesday, March 6th. Bank of America raised shares of Party City Holdco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.50 to $20.00 in a research note on Thursday, April 19th. Finally, TheStreet raised shares of Party City Holdco from a “c” rating to a “b-” rating in a research note on Monday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.29.

Party City Holdco traded up $0.10, reaching $14.70, on Thursday, according to Marketbeat.com. The company had a trading volume of 15,490 shares, compared to its average volume of 872,514. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.38 and a current ratio of 1.27. The company has a market cap of $1.48 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.39 and a beta of 2.18. Party City Holdco has a 12 month low of $14.43 and a 12 month high of $15.10.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings results on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $507.82 million for the quarter, compared to the consensus estimate of $502.94 million. Party City Holdco had a net margin of 9.11% and a return on equity of 14.56%. Party City Holdco’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. analysts forecast that Party City Holdco will post 1.79 EPS for the current fiscal year.

In other Party City Holdco news, Director Gerald C. Rittenberg sold 239,000 shares of Party City Holdco stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $15.38, for a total value of $3,675,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its stake in shares of Party City Holdco by 20.7% during the 4th quarter. Bamco Inc. NY now owns 3,095,000 shares of the specialty retailer’s stock worth $43,175,000 after purchasing an additional 530,000 shares during the period. BlackRock Inc. boosted its stake in shares of Party City Holdco by 17.6% during the 1st quarter. BlackRock Inc. now owns 2,093,468 shares of the specialty retailer’s stock worth $32,659,000 after purchasing an additional 312,921 shares during the period. Peregrine Capital Management LLC boosted its stake in shares of Party City Holdco by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 1,421,147 shares of the specialty retailer’s stock worth $19,825,000 after purchasing an additional 8,886 shares during the period. Sapience Investments LLC boosted its stake in shares of Party City Holdco by 35.4% during the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock worth $19,658,000 after purchasing an additional 368,050 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Party City Holdco during the 1st quarter worth about $20,593,000.

Party City Holdco Company Profile

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 and novelties, stationery, and decorations.

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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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