Party City Holdco (NYSE:PRTY) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Party City Holdco (NYSE:PRTY) from a sell rating to a strong sell rating in a research report report published on Monday, October 29th.

A number of other analysts have also issued reports on the company. TheStreet lowered Party City Holdco from a b- rating to a c rating in a report on Thursday, October 11th. Morgan Stanley lowered their target price on Party City Holdco from $16.00 to $15.00 and set an equal weight rating on the stock in a report on Thursday, October 11th. Zacks Investment Research lowered Party City Holdco from a hold rating to a sell rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. set a $19.00 price objective on Party City Holdco and gave the stock a buy rating in a research report on Monday, October 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Party City Holdco presently has a consensus rating of Buy and an average target price of $17.33.

PRTY stock traded up $0.19 during mid-day trading on Monday, hitting $11.08. The stock had a trading volume of 1,367,567 shares, compared to its average volume of 2,736,624. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.30 and a quick ratio of 0.36. Party City Holdco has a 1-year low of $8.24 and a 1-year high of $16.95. The firm has a market cap of $1.06 billion, a P/E ratio of 9.23, a PEG ratio of 0.34 and a beta of 2.19.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). The company had revenue of $553.00 million for the quarter, compared to analyst estimates of $591.77 million. Party City Holdco had a net margin of 8.70% and a return on equity of 14.86%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. As a group, research analysts expect that Party City Holdco will post 1.62 EPS for the current year.

In other news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the sale, the director now directly owns 3,800 shares in the company, valued at $53,504. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Norman S. Matthews purchased 46,000 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was purchased at an average price of $10.75 per share, for a total transaction of $494,500.00. Following the completion of the acquisition, the director now owns 166,565 shares of the company’s stock, valued at $1,790,573.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 106,600 shares of company stock worth $1,115,078. Corporate insiders own 6.47% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC lifted its stake in Party City Holdco by 6.6% during the third quarter. Neuberger Berman Group LLC now owns 7,035,882 shares of the specialty retailer’s stock worth $95,334,000 after purchasing an additional 435,513 shares during the last quarter. BlackRock Inc. grew its holdings in Party City Holdco by 65.9% during the 3rd quarter. BlackRock Inc. now owns 4,084,707 shares of the specialty retailer’s stock worth $55,347,000 after acquiring an additional 1,622,584 shares during the period. Jennison Associates LLC grew its stake in shares of Party City Holdco by 16.3% in the 3rd quarter. Jennison Associates LLC now owns 4,051,605 shares of the specialty retailer’s stock valued at $54,899,000 after buying an additional 566,684 shares during the period. Bamco Inc. NY grew its stake in shares of Party City Holdco by 4.7% in the 3rd quarter. Bamco Inc. NY now owns 3,600,000 shares of the specialty retailer’s stock valued at $48,780,000 after buying an additional 160,000 shares during the period. Finally, Morgan Stanley lifted its position in Party City Holdco by 166.5% in the 3rd quarter. Morgan Stanley now owns 3,099,747 shares of the specialty retailer’s stock valued at $42,001,000 after acquiring an additional 1,936,713 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

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 and novelties, stationery, and decorations.

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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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