BMO Capital Upgrades Rating On Party City Holdco Inc. (PRTY)

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Party City Holdco Inc. (NYSE:PRTY).

On October 24 the company was upgraded from “Market Perform” to “Outperform” by BMO Capital.

In the market the company is trading up by 6.47%% since yesterday’s close of 11.2. Company shares last traded at $11.93 which is slightly below the 50 day moving average which is $13.14 and which is quite a bit lower than the 200 day moving average of $14.58. The 50 day moving average went down by -9.217% and the 200 day average moved down $-2.66.

Party City Holdco Inc., launched on May 31, 2012, is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc. (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc. (PCHI). PCHI or its direct or indirect subsidiaries conduct all of its operating businesses. The Company operates through two segments: Retail and Wholesale. Its retail operations generate revenue primarily through the sale of its Amscan, Designware, Anagram and Costumes USA party supplies through its Party City stores, Halloween City stores and PartyCity.com. Its wholesale revenues are generated from the sale of party goods for all occasions, including paper and plastic tableware, accessories and novelties, costumes, metallic and latex balloons and stationery. Its products are sold at wholesale to party goods superstores, including its franchise stores, other party goods retailers, mass merchants, independent card and gift stores, dollar stores and other retailers and distributors throughout the world. As of December 31, 2016, the Business’s network consisted of approximately 880 superstore locations in the United States (inclusive of franchised stores) and approximately 50 locations in Canada. It also operates approximately 250 to 300 temporary Halloween stores under the Halloween City banner..

The company currently has a P/E ratio of 12.319 and market capitalization is 1.43B. In the last earnings report the EPS was $0.97 and is projected to be $1.28 for the current year with 119,529,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.82 with next year’s EPS anticipated to be $1.44.

Traders are feeling more bearish of late if you pay attention to the motion in short interest. The firm recorded a rise in short interest from September 15, 2017 to September 29, 2017 of 3.33%. Short shares increased 251,251 over that timeframe. With short interest at 7,806,067 and short average daily volume at 476,493, days to cover is 16.0 and the percentage of shorted shares is 0.07% as of September 29.

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