Party City Holdco (NYSE:PRTY) Downgraded by Goldman Sachs Group to “Neutral”

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

Several other brokerages have also recently commented on PRTY. 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. Telsey Advisory Group cut shares of Party City Holdco from an outperform rating to a market perform rating and reduced their price target for the stock from $9.00 to $2.50 in a research report on Friday. 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. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $7.13.

Shares of PRTY stock traded up $0.34 during trading hours on Friday, hitting $2.34. 16,622,478 shares of the company were exchanged, compared to its average volume of 2,024,244. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.30 and a current ratio of 1.23. Party City Holdco has a one year low of $1.98 and a one year high of $12.37. The business’s 50-day simple moving average is $6.02 and its two-hundred day simple moving average is $6.43. The stock 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.

Party City Holdco (NYSE:PRTY) last issued its quarterly 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 return on equity of 12.73% and a net margin of 4.67%. The company had revenue of $540.20 million for the quarter, compared to the consensus estimate of $551.73 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts anticipate that Party City Holdco will post 1.26 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corbyn Investment Management Inc. MD raised its holdings in shares of Party City Holdco by 2.6% during the second quarter. Corbyn Investment Management Inc. MD now owns 480,755 shares of the specialty retailer’s stock valued at $3,524,000 after buying an additional 12,071 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $683,000. Aperio Group LLC bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $214,000. United Services Automobile Association raised its holdings in shares of Party City Holdco by 19.0% during the second quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 3,220 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Party City Holdco by 27.2% during the second quarter. First Trust Advisors LP now owns 404,069 shares of the specialty retailer’s stock valued at $2,962,000 after buying an additional 86,308 shares during the last quarter.

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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The Fly

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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