Party City Holdco (PRTY) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Party City Holdco (NYSE:PRTY) from a sell rating to a strong sell rating in a research report released on Friday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. set a $19.00 price target on Party City Holdco and gave the company a buy rating in a report on Monday, October 1st. Zacks Investment Research raised Party City Holdco from a sell rating to a hold rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $19.33.

Shares of PRTY traded up $0.04 during mid-day trading on Friday, hitting $11.30. The company’s stock had a trading volume of 2,136,456 shares, compared to its average volume of 1,020,396. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.27 and a quick ratio of 0.36. The stock has a market capitalization of $1.31 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.34 and a beta of 2.07. Party City Holdco has a 1-year low of $9.50 and a 1-year high of $16.95.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Thursday, August 9th. The specialty retailer reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $561.00 million during the quarter, compared to analysts’ expectations of $560.95 million. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Research analysts anticipate that Party City Holdco will post 1.83 EPS for the current year.

In related news, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $53,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total value of $155,000,000.00. The disclosure for this sale can be found here. 6.47% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in 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 worth $101,000 after buying an additional 4,916 shares in the last quarter. Spark Investment Management LLC purchased a new position in Party City Holdco during the second quarter worth $1,659,000. Schwab Charles Investment Management Inc. increased its position in Party City Holdco by 13.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 194,711 shares of the specialty retailer’s stock worth $2,970,000 after buying an additional 23,320 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Party City Holdco during the second quarter worth $351,000. Finally, Game Creek Capital LP increased its position in Party City Holdco by 33.4% during the second quarter. Game Creek Capital LP now owns 65,100 shares of the specialty retailer’s stock worth $993,000 after buying an additional 16,300 shares in 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 and novelties, stationery, and decorations.

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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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