In today’s recent session, 1,695,338 shares of the Party City Holdco Inc.(NYSE:PRTY) have been traded, and its beta is 4.17. Most recently the company’s share price was $8.28, and it changed around $0.06 or 0.01% from the last close, which brings the market valuation of the company to $911.72 Million. PRTY at last check was trading at a discount to its 52-week high of $9.21, offering almost -11.23% off that amount. The share price’s 52-week low was $0.26, which indicates that the recent value has risen by an impressive 96.86% since then. We note from Party City Holdco Inc.’s average daily trading volume that its 10-day average is 3.4 Million shares, with the 3-month average coming to 3.98 Million.
Party City Holdco Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.8. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 4 recommended PRTY as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. Party City Holdco Inc. is expected to report earnings per share of $0.3 for the current quarter.
Party City Holdco Inc. (NYSE:PRTY): Trading Information Today
Instantly PRTY has been showing a green trend so far today with a performance of 0.73% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $8.73- on Monday, Feb 22 increased the stock’s daily price by 4.24%. The company’s shares are currently up 0.36% year-to-date, but still up 0.045 over the last five days. On the other hand, Party City Holdco Inc. (NYSE:PRTY) is 0.12% up in the 30-day period. We can see from the shorts that 6.32 Million shares have been sold at a short interest cover period of 1.59 day(s).
The consensus price target as assigned by Wall Street analysts is $7.75, which translates to bears needing to reduce their stock price by -6.4% from its current value. Analyst projections state that PRTY is forecast to be at a low of $7 and a high of $9. In order for the stock price to hit the forecast high, the stock would need to surge +8.7% from its current level, while the stock would need to crash -15.46% from its current level to reach the projected low.
Party City Holdco Inc. (PRTY) projections and forecasts
Party City Holdco Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +300.98 percent over the past six months and at a -200% annual growth rate that is well below the industry average of 11.5%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -41.2% in revenue this quarter, and will report an increase of 121.4% in the next quarter. The year-over-year growth rate is expected to be -20.6%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $649.87 Million in revenue for the current quarter. 2 analysts expect Party City Holdco Inc. to make $459Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $731.55 Million and $414.04 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -11.2%. Forecasts for the next quarter put sales growth at 10.9%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -69%. Party City Holdco Inc. earnings are expected to decrease by -557.5% in 2021, but the outlook is positive 12.58% per year for the next five years.
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Party City Holdco Inc. (NYSE:PRTY)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 9.67% of Party City Holdco Inc. shares, and 47.75% of them are in the hands of institutional investors. The stock currently has a share float of 52.86%. Party City Holdco Inc. stock is held by 109 institutions, with CAS Investment Partners, LLC being the largest institutional investor. By Sep 29, 2020, it held 11.11% of the shares, which is about 12.29 Million shares worth $31.95 Million.
Morgan Stanley, with 6.68% or 7.39 Million shares worth $19.21 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.