Shares of Party City Holdco Inc (NYSE:PRTY) have received a consensus rating of “Hold” from the eight analysts that are currently covering the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.60.
Several brokerages have weighed in on PRTY. TheStreet raised shares of Party City Holdco from a “d+” rating to a “c-” rating in a research note on Tuesday, April 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 target price (down previously from $18.00) on shares of Party City Holdco in a research note on Wednesday, March 15th. Credit Suisse Group AG set a $19.00 target price on shares of Party City Holdco and gave the stock a “buy” rating in a research note on Monday, March 13th. Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of Party City Holdco in a research note on Thursday, February 16th.
Party City Holdco (NYSE:PRTY) traded down 0.34% during midday trading on Wednesday, hitting $14.65. 102,118 shares of the stock were exchanged. The firm’s 50 day moving average price is $14.07 and its 200 day moving average price is $15.22. The company has a market cap of $1.75 billion, a PE ratio of 14.95 and a beta of 2.85. Party City Holdco has a 12 month low of $12.05 and a 12 month high of $19.10.
Party City Holdco (NYSE:PRTY) last announced its earnings results on Thursday, March 9th. The specialty retailer reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company earned $749 million during the quarter, compared to analyst estimates of $758.24 million. Party City Holdco had a net margin of 5.13% and a return on equity of 14.62%. Party City Holdco’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that Party City Holdco will post $1.27 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of Party City Holdco during the third quarter valued at about $28,694,000. Peregrine Capital Management LLC acquired a new stake in shares of Party City Holdco during the third quarter valued at about $21,601,000. Rice Hall James & Associates LLC acquired a new stake in shares of Party City Holdco during the first quarter valued at about $16,244,000. Bank of New York Mellon Corp boosted its stake in shares of Party City Holdco by 711.3% in the third quarter. Bank of New York Mellon Corp now owns 772,925 shares of the specialty retailer’s stock valued at $13,233,000 after buying an additional 677,658 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its stake in shares of Party City Holdco by 95.4% in the fourth quarter. Hodges Capital Management Inc. now owns 907,615 shares of the specialty retailer’s stock valued at $12,888,000 after buying an additional 443,070 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.
About Party City Holdco
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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