Party City Holdco Inc (NYSE:PRTY) Expected to Announce Quarterly Sales of $549.39 Million

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Equities analysts predict that Party City Holdco Inc (NYSE:PRTY) will announce sales of $549.39 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Party City Holdco’s earnings, with the lowest sales estimate coming in at $548.60 million and the highest estimate coming in at $550.18 million. Party City Holdco posted sales of $553.05 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.7%. The company is expected to announce its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Party City Holdco will report full year sales of $2.44 billion for the current financial year, with estimates ranging from $2.39 billion to $2.52 billion. For the next financial year, analysts expect that the company will post sales of $2.47 billion, with estimates ranging from $2.39 billion to $2.61 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Party City Holdco.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.16). The company had revenue of $563.90 million for the quarter, compared to analyst estimates of $572.14 million. Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS.

A number of research firms recently weighed in on PRTY. Morgan Stanley lowered their target price on shares of Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America lowered their target price on shares of Party City Holdco from $14.50 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Goldman Sachs Group raised shares of Party City Holdco from a “neutral” rating to a “buy” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on shares of Party City Holdco from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.92.

In other news, CFO Michael A. Correale acquired 24,300 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $4.13 per share, with a total value of $100,359.00. Following the completion of the purchase, the chief financial officer now owns 114,481 shares of the company’s stock, valued at $472,806.53. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Harrison acquired 125,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $4.53 per share, for a total transaction of $566,250.00. Following the completion of the purchase, the chief executive officer now directly owns 114,074 shares of the company’s stock, valued at approximately $516,755.22. The disclosure for this purchase can be found here. 6.47% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of PRTY. Elk Creek Partners LLC lifted its position in shares of Party City Holdco by 9.1% during the first quarter. Elk Creek Partners LLC now owns 1,030,909 shares of the specialty retailer’s stock worth $8,185,000 after purchasing an additional 86,215 shares in the last quarter. Investors Research Corp acquired a new position in Party City Holdco in the first quarter valued at approximately $71,000. Campbell & CO Investment Adviser LLC acquired a new position in Party City Holdco in the first quarter valued at approximately $155,000. Gilman Hill Asset Management LLC lifted its holdings in Party City Holdco by 7.6% in the first quarter. Gilman Hill Asset Management LLC now owns 45,358 shares of the specialty retailer’s stock valued at $360,000 after buying an additional 3,208 shares during the period. Finally, Sapience Investments LLC lifted its holdings in Party City Holdco by 26.2% in the first quarter. Sapience Investments LLC now owns 784,050 shares of the specialty retailer’s stock valued at $6,225,000 after buying an additional 162,700 shares during the period.

NYSE PRTY traded up $0.50 on Wednesday, reaching $4.71. The company’s stock had a trading volume of 2,737,600 shares, compared to its average volume of 2,732,337. The firm has a market cap of $401.36 million, a PE ratio of 2.96, a price-to-earnings-growth ratio of 0.22 and a beta of 1.30. The business has a 50-day moving average price of $6.14 and a 200 day moving average price of $7.99. Party City Holdco has a 52 week low of $4.07 and a 52 week high of $15.75. The company has a current ratio of 1.23, a quick ratio of 0.28 and a debt-to-equity ratio of 2.21.

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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