Party City Holdco Inc.PRTY was a big mover last session, as the company saw its shares rise more than 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $11.80 to $13.90 in the past one-month time frame.
The move came after the company announced that it would purchase 19.8 million shares of stock for $242 million from Advent-Party City Acquisition Limited Partnership.
The company has seen four negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Party City Holdco currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
A better-ranked stock in the Consumer Discretionary sector is SodaStream International Ltd. SODA, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is PRTY going up? Or down? Predict to see what others think: Up or Down
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment