November 10, 2019 at 6:40 pm

Telsey Advisory Group Lowers Party City Holdco (NYSE:PRTY) to Market Perform

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Telsey Advisory Group cut shares of Party City Holdco (NYSE:PRTY) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning, Benzinga’s Daily Ratings Newsletter reports. Telsey Advisory Group currently has $2.50 target price on the specialty retailer’s stock, down from their prior target price of $9.00.

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Several other research firms have also commented on PRTY. ValuEngine raised shares of Party City Holdco from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Morgan Stanley decreased their target price on shares of Party City Holdco from $13.00 to $5.00 and set an equal weight rating on the stock in a report on Friday, August 16th. Zacks Investment Research raised shares of Party City Holdco from a sell rating to a hold rating in a report on Tuesday, November 5th. Bank of America set a $10.00 target price on shares of Party City Holdco and gave the company a buy rating in a report on Friday, August 23rd. Finally, Goldman Sachs Group raised shares of Party City Holdco from a neutral rating to a buy rating and decreased their target price for the company from $10.00 to $8.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Party City Holdco presently has an average rating of Hold and a consensus target price of $7.13.

PRTY stock traded up $0.34 during mid-day trading on Friday, hitting $2.34. The stock had a trading volume of 16,622,478 shares, compared to its average volume of 2,024,244. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 2.21. Party City Holdco has a 52 week low of $1.98 and a 52 week high of $12.37. The firm has a market capitalization of $566.62 million, a P/E ratio of 1.47, a P/E/G ratio of 0.32 and a beta of 1.41. The firm has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $6.43.

Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.29). Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The firm had revenue of $540.20 million during the quarter, compared to the consensus estimate of $551.73 million. During the same period in the prior year, the business earned $0.08 earnings per share. Party City Holdco’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Party City Holdco will post 1.26 earnings per share for the current fiscal year.

In related news, CEO James M. Harrison purchased 125,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $4.53 per share, with a total value of $566,250.00. Following the acquisition, the chief executive officer now owns 114,074 shares of the company’s stock, valued at approximately $516,755.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael A. Correale purchased 24,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the completion of the acquisition, the chief financial officer now directly owns 114,481 shares in the company, valued at approximately $472,806.53. The disclosure for this purchase can be found here. Insiders have purchased a total of 153,855 shares of company stock worth $686,514 over the last ninety days. 6.47% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Party City Holdco by 13.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 23,504 shares of the specialty retailer’s stock worth $170,000 after buying an additional 2,804 shares during the period. United Services Automobile Association boosted its position in Party City Holdco by 19.0% during the 2nd quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock worth $148,000 after buying an additional 3,220 shares during the period. UBS Asset Management Americas Inc. boosted its position in Party City Holdco by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 48,805 shares of the specialty retailer’s stock worth $358,000 after buying an additional 4,732 shares during the period. CWM Advisors LLC boosted its position in Party City Holdco by 28.0% during the 2nd quarter. CWM Advisors LLC now owns 24,115 shares of the specialty retailer’s stock worth $177,000 after buying an additional 5,275 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in Party City Holdco by 12.6% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 51,078 shares of the specialty retailer’s stock worth $374,000 after buying an additional 5,720 shares during the period.

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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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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