Party City Holdco (NYSE:PRTY) Raised to “Hold” at Zacks Investment Research

Party City Holdco (NYSE:PRTYGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Party City Holdco Inc. is involved in designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery. It also operates specialty retail party supply stores primarily in the United States and Canada. Party City Holdco Inc. is based in Elmsford, New York. “

Separately, StockNews.com started coverage on shares of Party City Holdco in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.42.

Shares of NYSE PRTY opened at $3.17 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 1.23 and a debt-to-equity ratio of 16.34. Party City Holdco has a 52 week low of $2.97 and a 52 week high of $11.06. The firm has a 50-day moving average price of $3.65 and a 200 day moving average price of $5.11. The stock has a market capitalization of $356.47 million, a price-to-earnings ratio of -52.82 and a beta of 3.62.

Party City Holdco (NYSE:PRTYGet Rating) last announced its quarterly earnings data on Monday, February 28th. The specialty retailer reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). Party City Holdco had a negative net margin of 0.30% and a positive return on equity of 85.76%. The company had revenue of $698.31 million during the quarter, compared to analyst estimates of $697.50 million. During the same quarter last year, the business earned $0.25 EPS. Equities research analysts expect that Party City Holdco will post 0.82 EPS for the current fiscal year.

In other Party City Holdco news, major shareholder Clifford Sosin bought 470,000 shares of the company’s stock in a transaction on Friday, April 8th. The stock was purchased at an average cost of $3.46 per share, for a total transaction of $1,626,200.00. Following the acquisition, the insider now owns 20,001,623 shares of the company’s stock, valued at approximately $69,205,615.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.36% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd grew its holdings in shares of Party City Holdco by 25.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 14,531 shares of the specialty retailer’s stock worth $103,000 after buying an additional 2,944 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Party City Holdco by 2.3% during the fourth quarter. Deutsche Bank AG now owns 159,565 shares of the specialty retailer’s stock worth $889,000 after buying an additional 3,549 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Party City Holdco during the fourth quarter worth about $27,000. Gemmer Asset Management LLC grew its holdings in shares of Party City Holdco by 221.6% during the first quarter. Gemmer Asset Management LLC now owns 7,719 shares of the specialty retailer’s stock worth $27,000 after buying an additional 5,319 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Party City Holdco by 31.2% during the third quarter. Principal Financial Group Inc. now owns 23,179 shares of the specialty retailer’s stock worth $165,000 after buying an additional 5,508 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

About Party City Holdco (Get Rating)

Party City Holdco Inc designs, manufactures, sources, and distributes party goods worldwide. The company operates through two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery.

See Also

Get a free copy of the Zacks research report on Party City Holdco (PRTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Party City Holdco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Party City Holdco and related companies with MarketBeat.com's FREE daily email newsletter.