What Next for Party City Holdco Inc. (PRTY) After Forming Multiple Top Pattern?

June 17, 2018 - By Stephen Andrade

Party City Holdco Inc. (NYSE:PRTY) Logo

The stock of Party City Holdco Inc. (PRTY) shows a multiple tops pattern with $16.54 target or 6.00 % above today’s $15.60 share price. The 8 months chart pattern indicates low risk for the $1.51B company. It was reported on Jun, 17 by Finviz.com. If the $16.54 price target is reached, the company will be worth $90.30 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 2.97% or $0.45 during the last trading session, reaching $15.6. About 1.57 million shares traded or 67.47% up from the average. Party City Holdco Inc. (NYSE:PRTY) has declined 9.32% since June 17, 2017 and is downtrending. It has underperformed by 21.89% the S&P500.

Analysts await Party City Holdco Inc. (NYSE:PRTY) to report earnings on August, 1. They expect $0.40 earnings per share, up 42.86 % or $0.12 from last year’s $0.28 per share. PRTY’s profit will be $38.59M for 9.75 P/E if the $0.40 EPS becomes a reality. After $0.07 actual earnings per share reported by Party City Holdco Inc. for the previous quarter, Wall Street now forecasts 471.43 % EPS growth.

Party City Holdco Inc. (NYSE:PRTY) Ratings Coverage

Among 6 analysts covering Party City Holdco Inc (NYSE:PRTY), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. Party City Holdco Inc has $23.0 highest and $17 lowest target. $20’s average target is 28.21% above currents $15.6 stock price. Party City Holdco Inc had 8 analyst reports since December 22, 2017 according to SRatingsIntel. The rating was downgraded by JP Morgan on Monday, March 19 to “Neutral”. Telsey Advisory Group maintained Party City Holdco Inc. (NYSE:PRTY) rating on Friday, December 22. Telsey Advisory Group has “Outperform” rating and $17 target. The stock of Party City Holdco Inc. (NYSE:PRTY) earned “Hold” rating by J.P. Morgan on Monday, March 19. On Thursday, April 19 the stock rating was upgraded by Bank of America to “Buy”. BMO Capital Markets maintained the stock with “Buy” rating in Thursday, January 11 report. Bank of America maintained the shares of PRTY in report on Wednesday, December 27 with “Hold” rating. The firm has “Outperform” rating given on Monday, March 12 by BMO Capital Markets. The firm has “Buy” rating by Stephens given on Tuesday, March 6.

Another recent and important Party City Holdco Inc. (NYSE:PRTY) news was published by Businesswire.com which published an article titled: “Party City Announces Participation in the William Blair 38th Annual Growth Stock Conference” on June 05, 2018.

Party City Holdco Inc., through its subsidiaries, designs, makes, sources, and distributes party supplies in the United States and internationally. The company has market cap of $1.51 billion. The firm operates in two divisions, Retail and Wholesale. It has a 8.15 P/E ratio. It offers paper and plastic tableware, accessories and novelties, metallic and latex balloons, Halloween and other costumes, decorations, and stationery and gift items.

Party City Holdco Inc. (NYSE:PRTY) Ratings Chart

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