Party City Holdco (PRTY) Upgraded at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Party City Holdco (NYSE:PRTY) from a sell rating to a hold rating in a research note issued to investors on Wednesday, 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. “

PRTY has been the topic of several other research reports. ValuEngine raised shares of Party City Holdco from a strong sell rating to a sell rating in a report on Thursday, February 28th. Telsey Advisory Group reaffirmed an outperform rating and issued a $14.00 price target (down previously from $15.00) on shares of Party City Holdco in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. downgraded shares of Party City Holdco from an overweight rating to a neutral rating and reduced their price target for the company from $14.00 to $12.00 in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $14.17.

Shares of PRTY opened at $8.03 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.28 and a debt-to-equity ratio of 2.28. Party City Holdco has a twelve month low of $6.28 and a twelve month high of $16.95. The stock has a market cap of $753.13 million, a price-to-earnings ratio of 5.11, a P/E/G ratio of 0.32 and a beta of 1.84.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC lifted its stake in shares of Party City Holdco by 6.6% during the third quarter. Neuberger Berman Group LLC now owns 7,035,882 shares of the specialty retailer’s stock valued at $95,334,000 after buying an additional 435,513 shares during the period. Vanguard Group Inc lifted its stake in shares of Party City Holdco by 29.8% during the third quarter. Vanguard Group Inc now owns 4,901,062 shares of the specialty retailer’s stock valued at $66,410,000 after buying an additional 1,123,782 shares during the period. Vanguard Group Inc. lifted its stake in shares of Party City Holdco by 29.8% during the third quarter. Vanguard Group Inc. now owns 4,901,062 shares of the specialty retailer’s stock valued at $66,410,000 after buying an additional 1,123,782 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Party City Holdco by 84.9% during the fourth quarter. Nantahala Capital Management LLC now owns 4,379,789 shares of the specialty retailer’s stock valued at $43,710,000 after buying an additional 2,010,906 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Party City Holdco by 5.8% during the fourth quarter. Jennison Associates LLC now owns 4,287,244 shares of the specialty retailer’s stock valued at $42,787,000 after buying an additional 235,639 shares during the period.

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.

Further Reading: How to Track your Portfolio in Google Finance

Get a free copy of the Zacks research report on Party City Holdco (PRTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.