Party City Holdco (NYSE:PRTY) Rating Lowered to Neutral at Goldman Sachs Group

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Goldman Sachs Group cut shares of Party City Holdco (NYSE:PRTY) from a buy rating to a neutral rating in a research note published on Friday morning, The Fly reports.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Party City Holdco from a sell rating to a hold rating in a research report on Tuesday, November 5th. Telsey Advisory Group cut shares of Party City Holdco from an outperform rating to a market perform rating and lowered their price objective for the stock from $9.00 to $2.50 in a research report on Friday. Morgan Stanley decreased their target price on shares of Party City Holdco from $13.00 to $5.00 and set an equal weight rating for the company in a research note on Friday, August 16th. ValuEngine raised shares of Party City Holdco from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Finally, Bank of America set a $10.00 target price on shares of Party City Holdco and gave the company a buy rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $7.13.

NYSE PRTY traded up $0.34 on Friday, hitting $2.34. 16,622,478 shares of the stock were exchanged, compared to its average volume of 2,024,244. Party City Holdco has a 52-week low of $1.98 and a 52-week high of $12.37. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.23 and a quick ratio of 0.30. The company has a market capitalization of $566.62 million, a price-to-earnings ratio of 1.47, a P/E/G ratio of 0.32 and a beta of 1.41. The company’s 50-day moving average price is $6.02 and its two-hundred day moving average price is $6.43.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Thursday, November 7th. The specialty retailer reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.29). Party City Holdco had a return on equity of 12.73% and a net margin of 4.67%. The firm had revenue of $540.20 million for the quarter, compared to analysts’ expectations of $551.73 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts predict that Party City Holdco will post 1.26 EPS for the current fiscal year.

In other Party City Holdco news, CFO Michael A. Correale acquired 24,300 shares of Party City Holdco stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at $472,806.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James M. Harrison acquired 125,000 shares of Party City Holdco stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $4.53 per share, with a total value of $566,250.00. Following the purchase, the chief executive officer now owns 114,074 shares in the company, valued at approximately $516,755.22. The disclosure for this purchase can be found here. Insiders have acquired a total of 153,855 shares of company stock valued at $686,514 in the last three months. Company insiders own 6.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PRTY. Bank of Montreal Can acquired a new stake in shares of Party City Holdco in the 2nd quarter valued at $42,000. Parallax Volatility Advisers L.P. acquired a new stake in shares of Party City Holdco in the 2nd quarter valued at $62,000. Resources Investment Advisors LLC. acquired a new stake in shares of Party City Holdco in the 2nd quarter valued at $110,000. Commonwealth Bank of Australia lifted its stake in shares of Party City Holdco by 62.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 6,000 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in shares of Party City Holdco by 19.0% in the 2nd quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 3,220 shares during the last quarter.

Party City Holdco Company Profile

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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The Fly

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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