Party City Holdco (NYSE:PRTY) was downgraded by research analysts at JPMorgan Chase & Co. to a “hold” rating in a report issued on Monday.
Several other equities analysts also recently issued reports on the company. Telsey Advisory Group boosted their price objective on Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Saturday, December 30th. Bank of America upped their price target on Party City Holdco from $13.50 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, December 27th. BMO Capital Markets set a $18.00 price target on Party City Holdco and gave the company a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research raised Party City Holdco from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Party City Holdco currently has an average rating of “Hold” and an average target price of $17.29.
Shares of Party City Holdco stock traded down $0.25 during midday trading on Monday, hitting $15.40. The stock had a trading volume of 128,485 shares, compared to its average volume of 796,262. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.05. The stock has a market capitalization of $1,867.39, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.42 and a beta of 2.37. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.40 and a current ratio of 1.29.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Friday, March 9th. The specialty retailer reported $0.80 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $789.60 million during the quarter, compared to analyst estimates of $781.30 million. Party City Holdco had a return on equity of 14.14% and a net margin of 9.08%. Party City Holdco’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. research analysts expect that Party City Holdco will post 1.8 EPS for the current fiscal year.
In other Party City Holdco news, Director Gerald C. Rittenberg sold 239,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $15.38, for a total transaction of $3,675,820.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerald C. Rittenberg sold 100,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $14.00, for a total transaction of $1,400,000.00. The disclosure for this sale can be found here. Insiders sold 20,280,694 shares of company stock worth $248,544,487 in the last ninety days. 5.02% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in shares of Party City Holdco in the fourth quarter worth $191,000. Millennium Management LLC raised its position in shares of Party City Holdco by 465.1% during the fourth quarter. Millennium Management LLC now owns 226,618 shares of the specialty retailer’s stock valued at $3,161,000 after buying an additional 186,519 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Party City Holdco during the fourth quarter valued at about $245,000. Two Sigma Investments LP acquired a new position in shares of Party City Holdco during the fourth quarter valued at about $1,578,000. Finally, Sapience Investments LLC raised its position in shares of Party City Holdco by 35.4% during the fourth 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 during the last quarter. 83.62% of the stock is currently owned by institutional investors.
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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