Party City Holdco (NYSE:PRTY) – Analysts at William Blair lifted their Q3 2018 earnings estimates for shares of Party City Holdco in a research report issued to clients and investors on Wednesday, May 9th. William Blair analyst D. Hofkin now anticipates that the specialty retailer will post earnings of $0.16 per share for the quarter, up from their previous estimate of $0.12.
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Several other equities research analysts have also recently issued reports on PRTY. Stephens reaffirmed a “buy” rating and set a $23.00 target price on shares of Party City Holdco in a research note on Tuesday, March 6th. ValuEngine cut shares of Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. BMO Capital Markets set a $20.00 target price on shares of Party City Holdco and gave the stock a “buy” rating in a research note on Monday, March 12th. Zacks Investment Research cut shares of Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, JPMorgan Chase cut shares of Party City Holdco from an “overweight” rating to a “hold” rating and lifted their target price for the stock from $16.00 to $17.00 in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Party City Holdco has an average rating of “Hold” and a consensus target price of $18.29.
Party City Holdco opened at $15.60 on Monday, Marketbeat.com reports. Party City Holdco has a 1 year low of $15.55 and a 1 year high of $15.70. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.38 and a current ratio of 1.27. The firm has a market capitalization of $1.49 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.40 and a beta of 2.18.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Party City Holdco had a net margin of 9.11% and a return on equity of 14.56%. The firm had revenue of $507.82 million for the quarter, compared to analysts’ expectations of $502.94 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year.
In other Party City Holdco news, Director Gerald C. Rittenberg sold 239,000 shares of Party City Holdco stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $15.38, for a total transaction of $3,675,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.47% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PRTY. Westfield Capital Management Co. LP purchased a new position in shares of Party City Holdco during the 1st quarter worth $20,593,000. Shellback Capital LP purchased a new position in shares of Party City Holdco during the 4th quarter worth $10,672,000. Bamco Inc. NY raised its holdings in shares of Party City Holdco by 20.7% during the 4th quarter. Bamco Inc. NY now owns 3,095,000 shares of the specialty retailer’s stock worth $43,175,000 after acquiring an additional 530,000 shares during the period. Sapience Investments LLC raised its holdings in shares of Party City Holdco by 35.4% during the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock worth $19,658,000 after acquiring an additional 368,050 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Party City Holdco by 17.6% during the 1st quarter. BlackRock Inc. now owns 2,093,468 shares of the specialty retailer’s stock worth $32,659,000 after acquiring an additional 312,921 shares during the period.
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 and novelties, stationery, and decorations.