Party City Holdco (PRTY) Upgraded to “Overweight” at Barclays

Barclays upgraded shares of Party City Holdco (NYSE:PRTY) from an equal weight rating to an overweight rating in a report published on Friday morning, The Fly reports. The brokerage currently has $16.00 price target on the specialty retailer’s stock.

A number of other research analysts have also weighed in on the company. ValuEngine lowered Party City Holdco from a hold rating to a sell rating in a research note on Wednesday, September 19th. Morgan Stanley reduced their price target on Party City Holdco from $16.00 to $15.00 and set an equal weight rating on the stock in a research note on Thursday, October 11th. TheStreet lowered Party City Holdco from a b- rating to a c rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. set a $19.00 price target on Party City Holdco and gave the stock a buy rating in a research note on Monday, October 1st. Finally, Zacks Investment Research lowered Party City Holdco from a hold rating to a sell rating in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Party City Holdco currently has a consensus rating of Buy and an average target price of $17.33.

Shares of Party City Holdco stock traded up $0.06 during trading hours on Friday, reaching $10.06. 4,667,084 shares of the company’s stock were exchanged, compared to its average volume of 1,998,955. Party City Holdco has a 52-week low of $8.24 and a 52-week high of $16.95. The firm has a market cap of $966.70 million, a PE ratio of 8.38, a P/E/G ratio of 0.25 and a beta of 2.19. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The business had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $591.77 million. During the same period in the prior year, the company earned $0.13 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Party City Holdco will post 1.63 EPS for the current year.

In related news, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $15.50, for a total value of $155,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald C. Rittenberg sold 50,000 shares of the stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total value of $704,000.00. Following the completion of the sale, the director now owns 3,800 shares of the company’s stock, valued at $53,504. The disclosure for this sale can be found here. Company insiders own 6.47% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Party City Holdco by 300.1% in the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 4,916 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Party City Holdco by 13.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 194,711 shares of the specialty retailer’s stock valued at $2,970,000 after purchasing an additional 23,320 shares in the last quarter. Spark Investment Management LLC acquired a new stake in Party City Holdco in the 2nd quarter valued at $1,659,000. Raymond James & Associates acquired a new stake in Party City Holdco in the 2nd quarter valued at $476,000. Finally, Game Creek Capital LP increased its holdings in Party City Holdco by 33.4% in the 2nd quarter. Game Creek Capital LP now owns 65,100 shares of the specialty retailer’s stock valued at $993,000 after purchasing an additional 16,300 shares in the last quarter.

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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The Fly

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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