Party City Holdco (NYSE:PRTY) announced its earnings results on Friday. The specialty retailer reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80, Morningstar.com reports. The firm had revenue of $789.60 million for the quarter, compared to the consensus estimate of $781.30 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. Party City Holdco updated its FY18 guidance to $1.76-1.87 EPS.
Shares of Party City Holdco (NYSE:PRTY) traded up $1.10 during trading hours on Friday, hitting $15.65. 3,293,434 shares of the stock traded hands, compared to its average volume of 592,554. The firm has a market cap of $1,867.39, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.40 and a beta of 2.37. Party City Holdco has a 12 month low of $9.50 and a 12 month high of $17.05. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64.
PRTY has been the subject of several recent analyst reports. BMO Capital Markets set a $18.00 target price on Party City Holdco and gave the company a “buy” rating in a research note on Thursday, January 11th. Stephens restated a “buy” rating and issued a $23.00 price target on shares of Party City Holdco in a research report on Tuesday, March 6th. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Morgan Stanley reduced their target price on shares of Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 14th. Finally, Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.25.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC raised its holdings in Party City Holdco by 36.6% in the third quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock worth $45,052,000 after purchasing an additional 890,188 shares during the period. Bamco Inc. NY grew its holdings in shares of Party City Holdco by 20.7% in the 4th quarter. Bamco Inc. NY now owns 3,095,000 shares of the specialty retailer’s stock valued at $43,175,000 after buying an additional 530,000 shares during the period. Peregrine Capital Management LLC grew its holdings in shares of Party City Holdco by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 1,421,147 shares of the specialty retailer’s stock valued at $19,825,000 after buying an additional 8,886 shares during the period. Sapience Investments LLC increased its position in shares of Party City Holdco by 35.4% in the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock valued at $19,658,000 after buying an additional 368,050 shares in the last quarter. Finally, Rubric Capital Management LP increased its position in shares of Party City Holdco by 100.0% in the 3rd quarter. Rubric Capital Management LP now owns 782,135 shares of the specialty retailer’s stock valued at $10,598,000 after buying an additional 390,970 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
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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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