Barclays upgraded shares of Party City Holdco (NYSE:PRTY) from an equal weight rating to an overweight rating in a report issued on Friday, November 9th, Marketbeat.com reports. They currently have $16.00 price target on the specialty retailer’s stock.
Party City Holdco Company Profile
Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and party supplies wholesale distributors 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.
A number of other research firms have also weighed in on PRTY. Zacks Investment Research lowered shares of Party City Holdco from a hold rating to a sell rating in a research note on Friday, July 27th. ValuEngine lowered shares of Party City Holdco from a hold rating to a sell rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. set a $19.00 price target on shares of Party City Holdco and gave the company a buy rating in a research report on Monday, October 1st.
TheStreet lowered shares of Party City Holdco from a b- rating to a c rating in a research report on Thursday, October 11th. Finally, Morgan Stanley reduced their price target on shares of Party City Holdco from $16.00 to $15.00 and set an equal weight rating for the company in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $17.33.
Shares of NYSE:PRTY traded up $0.08 during mid-day trading on Friday, reaching $11.16. The company had a trading volume of 547,362 shares, compared to its average volume of 2,658,931. Party City Holdco has a one year low of $8.24 and a one year high of $16.95. The stock has a market capitalization of $1.08 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.34 and a beta of 2.19. The company has a current ratio of 1.30, a quick ratio of 0.36 and a debt-to-equity ratio of 1.63.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Party City Holdco had a net margin of 8.70% and a return on equity of 14.86%. The business had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $591.77 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts predict that Party City Holdco will post 1.62 earnings per share for the current year.
In other Party City Holdco news, Director William S. Creekmuir purchased 5,700 shares of the stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $11.45 per share, with a total value of $65,265.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James M. Harrison purchased 50,000 shares of the stock in a transaction on Monday, November 12th.
The stock was acquired at an average cost of $10.09 per share, with a total value of $504,500.00. Following the completion of the purchase, the chief executive officer now directly owns 97,054 shares of the company’s stock, valued at $979,274.86. The disclosure for this purchase can be found here. Insiders have bought a total of 106,600 shares of company stock valued at $1,115,078 over the last ninety days. 6.47% of the stock is currently owned by insiders.
A number of institutional investors and wholesale suppliers usa have recently bought and sold shares of PRTY. Glenmede Trust Co. NA lifted its stake in Party City Holdco by 657,291.7% in the third quarter. Glenmede Trust Co. NA now owns 1,991,897 shares of the specialty retailer’s stock worth $26,990,000 after purchasing an additional 1,991,594 shares during the last quarter. Morgan Stanley lifted its stake in Party City Holdco by 166.5% in the third quarter. Morgan Stanley now owns 3,099,747 shares of the specialty retailer’s stock worth $42,001,000 after purchasing an additional 1,936,713 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of Party City Holdco during the second quarter valued at about $27,562,000. BlackRock Inc. raised its stake in shares of Party City Holdco by 65.9% during the third quarter. BlackRock Inc. now owns 4,084,707 shares of the specialty retailer’s stock valued at $55,347,000 after acquiring an additional 1,622,584 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Party City Holdco by 56.7% during the second quarter. Jennison Associates LLC now owns 3,484,921 shares of the specialty retailer’s stock valued at $53,145,000 after acquiring an additional 1,261,206 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.