Party City Holdco (NYSE:PRTY) Stock Rating Lowered by Telsey Advisory Group

Telsey Advisory Group lowered shares of Party City Holdco (NYSE:PRTY) from an outperform rating to a market perform rating in a report issued on Friday, Benzinga’s Daily Ratings Newsletter reports. The brokerage currently has $2.50 price objective on the specialty retailer’s stock, down from their previous price objective of $9.00.

Several other research analysts have also commented on PRTY. Goldman Sachs Group upgraded shares of Party City Holdco from a neutral rating to a buy rating and decreased their price objective for the stock from $10.00 to $8.00 in a report on Wednesday, July 24th. Morgan Stanley decreased their price objective on shares of Party City Holdco from $13.00 to $5.00 and set an equal weight rating for the company in a report on Friday, August 16th. ValuEngine upgraded shares of Party City Holdco from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Bank of America set a $10.00 price objective on shares of Party City Holdco and gave the stock a buy rating in a report on Friday, August 23rd. Finally, Zacks Investment Research upgraded shares of Party City Holdco from a sell rating to a hold rating in a 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’s stock. The company currently has a consensus rating of Hold and a consensus target price of $7.13.

PRTY traded down $0.21 during trading on Friday, hitting $2.16. 10,117,057 shares of the stock traded hands, compared to its average volume of 2,103,133. The firm has a market capitalization of $220.98 million, a P/E ratio of 1.36, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. 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 firm has a 50-day moving average of $5.80 and a 200 day moving average of $6.34. Party City Holdco has a 12-month low of $1.98 and a 12-month high of $12.37.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.29). The firm had revenue of $540.20 million for the quarter, compared to analysts’ expectations of $551.73 million. Party City Holdco had a negative net margin of 6.82% and a positive return on equity of 9.41%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. As a group, equities analysts predict that Party City Holdco will post 0.84 EPS for the current fiscal year.

In other Party City Holdco news, Director Norman S. Matthews purchased 212,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $2.32 per share, for a total transaction of $493,000.00. Following the purchase, the director now directly owns 406,989 shares in the company, valued at $944,214.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James M. Harrison purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $2.32 per share, with a total value of $232,000.00. Following the completion of the purchase, the chief executive officer now owns 114,074 shares in the company, valued at $264,651.68. The disclosure for this purchase can be found here. Insiders acquired a total of 336,800 shares of company stock valued at $825,359 over the last 90 days. Company insiders own 6.42% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in shares of Party City Holdco during the 2nd quarter worth $42,000. Parallax Volatility Advisers L.P. purchased a new stake in Party City Holdco during the second quarter worth $62,000. Resources Investment Advisors LLC. purchased a new stake in Party City Holdco during the second quarter worth $110,000. Commonwealth Bank of Australia boosted its position in Party City Holdco by 62.5% during the second quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 6,000 shares in the last quarter. Finally, United Services Automobile Association boosted its position in 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 worth $148,000 after purchasing an additional 3,220 shares in 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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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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