Party City Holdco (NYSE:PRTY) Downgraded by Telsey Advisory Group to “Market Perform”

Party City Holdco (NYSE:PRTY) was downgraded by investment analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, Benzinga’s Daily Ratings Newsletter reports. They currently have a $2.50 target price on the specialty retailer’s stock, down from their previous target price of $9.00. Telsey Advisory Group’s price objective would indicate a potential upside of 6.84% from the company’s current price.

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

PRTY stock traded up $0.34 during midday trading on Friday, reaching $2.34. The company’s stock had a trading volume of 16,622,478 shares, 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 stock has a market cap of $566.62 million, a PE ratio of 1.47, a price-to-earnings-growth ratio of 0.32 and a beta of 1.41. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 2.21. The business’s 50-day simple moving average is $6.02 and its 200-day simple moving average is $6.43.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $540.20 million during the quarter, compared to the consensus estimate of $551.73 million. During the same period in the previous year, the business posted $0.08 earnings per share. Party City Holdco’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Party City Holdco will post 1.26 earnings per share for the current fiscal year.

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

Several large investors have recently modified their holdings of the stock. Thompson Investment Management Inc. raised its holdings in shares of Party City Holdco by 59.3% during the third quarter. Thompson Investment Management Inc. now owns 846,920 shares of the specialty retailer’s stock worth $4,836,000 after acquiring an additional 315,255 shares during the period. First Trust Advisors LP raised its holdings in shares of Party City Holdco by 8.3% during the third quarter. First Trust Advisors LP now owns 437,796 shares of the specialty retailer’s stock worth $2,500,000 after acquiring an additional 33,727 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Party City Holdco during the third quarter worth $571,000. California Public Employees Retirement System raised its holdings in shares of Party City Holdco by 43.0% during the third quarter. California Public Employees Retirement System now owns 26,077 shares of the specialty retailer’s stock worth $149,000 after acquiring an additional 7,844 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Party City Holdco during the third quarter worth $256,000.

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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