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

Share on StockTwits

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

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

NYSE:PRTY traded up $0.06 during mid-day trading on Friday, reaching $10.06. The stock had a trading volume of 4,667,084 shares, compared to its average volume of 1,998,955. The company has a market capitalization of $966.70 million, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 0.25 and a beta of 2.19. Party City Holdco has a 1-year low of $8.24 and a 1-year high of $16.95. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 1.27.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). The firm had revenue of $553.00 million during the quarter, compared to analyst estimates of $591.77 million. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, equities research analysts forecast that Party City Holdco will post 1.63 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTY. Royal Bank of Canada raised its holdings in shares of Party City Holdco by 300.1% during the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 4,916 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in shares of Party City Holdco during the third quarter valued at approximately $130,000. NumerixS Investment Technologies Inc bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $183,000. BlueMountain Capital Management LLC bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $203,000. Finally, California Public Employees Retirement System bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $204,000.

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 and novelties, stationery, and decorations.

Featured Story: Investing in Dividend Stocks

The Fly

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

Receive News & Ratings for Party City Holdco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Party City Holdco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply