Shares of Party City Holdco Inc. (NYSE:PRTY) have earned a consensus recommendation of “Hold” from the eleven research firms that are covering the stock. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.14.
A number of research analysts recently issued reports on PRTY shares. Zacks Investment Research upgraded Party City Holdco from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 9th. TheStreet upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Morgan Stanley restated a “hold” rating and set a $17.00 price objective on shares of Party City Holdco in a research report on Friday, August 5th. Goldman Sachs Group Inc. boosted their price objective on Party City Holdco from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Finally, Telsey Advisory Group boosted their price objective on Party City Holdco from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 5th.
Party City Holdco (NYSE:PRTY) opened at 17.67 on Monday. Party City Holdco has a 12 month low of $7.53 and a 12 month high of $19.10. The stock has a 50 day moving average price of $16.92 and a 200-day moving average price of $15.32. The stock has a market cap of $2.11 billion, a PE ratio of 33.79 and a beta of 3.13.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Party City Holdco had a return on equity of 14.94% and a net margin of 2.77%. The business earned $519.40 million during the quarter, compared to analyst estimates of $521.07 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts expect that Party City Holdco will post $1.23 EPS for the current year.
In other news, CEO James M. Harrison acquired 20,969 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was acquired at an average price of $17.94 per share, for a total transaction of $376,183.86. Following the completion of the acquisition, the chief executive officer now directly owns 20,969 shares in the company, valued at approximately $376,183.86. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.91% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its stake in shares of Party City Holdco by 1.3% in the second quarter. Cubist Systematic Strategies LLC now owns 10,504 shares of the company’s stock valued at $146,000 after buying an additional 131 shares during the period. Oxford Asset Management purchased a new stake in shares of Party City Holdco during the second quarter valued at $162,000. Picton Mahoney Asset Management purchased a new stake in shares of Party City Holdco during the first quarter valued at $184,000. Quantitative Systematic Strategies LLC raised its stake in shares of Party City Holdco by 18.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,260 shares of the company’s stock valued at $169,000 after buying an additional 1,913 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Party City Holdco during the first quarter valued at $188,000. Institutional investors and hedge funds own 95.77% of the company’s stock.
Party City Holdco Company Profile
Party City Holdco Inc is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment 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 throughout the world.
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