Party City Holdco (NYSE:PRTY) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Party City Holdco (NYSE:PRTY) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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. “

Separately, JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an underweight rating and a $20.48 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $12.89.

Shares of PRTY stock opened at $7.11 on Thursday. The company has a quick ratio of 0.28, a current ratio of 1.16 and a debt-to-equity ratio of 2.28. The firm has a market cap of $644.34 million, a P/E ratio of 4.47, a P/E/G ratio of 0.28 and a beta of 1.31. The business’s 50 day moving average is $7.42. Party City Holdco has a 52 week low of $6.28 and a 52 week high of $16.95.

Party City Holdco (NYSE:PRTY) last announced its earnings results on Thursday, May 9th. The specialty retailer reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $513.12 million for the quarter, compared to the consensus estimate of $522.59 million. Party City Holdco had a net margin of 3.87% and a return on equity of 14.84%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. On average, sell-side analysts forecast that Party City Holdco will post 1.67 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Party City Holdco by 67.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,537 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 1,024 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Party City Holdco by 14.7% in the fourth quarter. Legal & General Group Plc now owns 9,991 shares of the specialty retailer’s stock valued at $100,000 after purchasing an additional 1,284 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Party City Holdco by 0.5% in the fourth quarter. First Trust Advisors LP now owns 301,708 shares of the specialty retailer’s stock valued at $3,011,000 after purchasing an additional 1,453 shares during the last quarter. Weiss Asset Management LP raised its holdings in shares of Party City Holdco by 10.8% in the first quarter. Weiss Asset Management LP now owns 16,058 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,568 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its holdings in shares of Party City Holdco by 20.3% in the first quarter. Marshall Wace North America L.P. now owns 12,865 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 2,174 shares during the last quarter.

About Party City Holdco

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, novelties, gifts, and stationery.

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