Party City Holdco (NYSE:PRTY) posted its quarterly earnings results on Thursday. The specialty retailer reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.29), Briefing.com reports. Party City Holdco had a return on equity of 12.73% and a net margin of 4.67%. The company had revenue of $540.20 million during the quarter, compared to the consensus estimate of $551.73 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Party City Holdco updated its FY19 guidance to $0.84-$0.91 EPS.
Party City Holdco stock traded up $0.34 during mid-day trading on Friday, hitting $2.34. 16,622,478 shares of the company’s stock were exchanged, compared to its average volume of 2,024,244. The firm has a market capitalization of $566.62 million, a P/E ratio of 1.47, a PEG ratio of 0.32 and a beta of 1.41. Party City Holdco has a fifty-two week low of $1.98 and a fifty-two week high of $12.37. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 2.21. The company’s 50 day simple moving average is $6.02 and its 200-day simple moving average is $6.43.
Several research firms have recently issued reports on PRTY. Goldman Sachs Group lowered Party City Holdco from a “buy” rating to a “neutral” rating in a research report on Friday. Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Bank of America set a $10.00 price target on Party City Holdco and gave the stock a “buy” rating in a research report on Friday, August 23rd. ValuEngine upgraded Party City Holdco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Telsey Advisory Group lowered Party City Holdco from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $9.00 to $2.50 in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.13.
In other Party City Holdco news, CFO Michael A. Correale acquired 24,300 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $4.13 per share, with a total value of $100,359.00. Following the purchase, the chief financial officer now owns 114,481 shares of the company’s stock, valued at approximately $472,806.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James M. Harrison acquired 125,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $4.53 per share, for a total transaction of $566,250.00. Following the purchase, the chief executive officer now directly owns 114,074 shares in the company, valued at approximately $516,755.22. The disclosure for this purchase can be found here. Insiders have purchased a total of 153,855 shares of company stock worth $686,514 in the last ninety days. 6.47% of the stock is currently owned by company insiders.
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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