Party City Holdco Inc. (PRTY) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Party City Holdco Inc. (NYSE:PRTY) from a hold rating to a buy rating in a research report report published on Saturday. The firm currently has $16.00 target price on the specialty retailer’s stock.
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. “
Other research analysts have also recently issued reports about the company. TheStreet raised Party City Holdco from a d+ rating to a c- rating in a report on Tuesday, April 11th. 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. ValuEngine cut Party City Holdco from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, BidaskClub raised Party City Holdco from a sell rating to a hold rating in a report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Party City Holdco presently has an average rating of Hold and an average target price of $17.00.
Shares of Party City Holdco (NYSE:PRTY) remained flat at $14.50 during trading on Friday. 353,093 shares of the stock were exchanged. The company has a market cap of $1.73 billion, a PE ratio of 14.98 and a beta of 2.69. Party City Holdco has a 52 week low of $12.65 and a 52 week high of $19.10. The firm’s 50-day moving average is $15.15 and its 200-day moving average is $14.95.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Party City Holdco had a return on equity of 14.19% and a net margin of 4.97%. The business had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $545.59 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Party City Holdco will post $1.28 EPS for the current year.
A number of hedge funds have recently made changes to their positions in PRTY. Legal & General Group Plc raised its stake 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 worth $101,000 after buying an additional 881 shares during the last quarter. Highbridge Capital Management LLC raised its stake in shares of Party City Holdco by 380.9% in the fourth quarter. Highbridge Capital Management LLC now owns 11,518 shares of the specialty retailer’s stock worth $163,000 after buying an additional 15,618 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Party City Holdco during the first quarter worth approximately $170,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Party City Holdco during the first quarter worth approximately $171,000. Finally, PEAK6 Investments L.P. purchased a new stake in shares of Party City Holdco during the first quarter worth approximately $194,000.
About Party City Holdco
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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