Party City Holdco Inc. (NYSE: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. (NASDAQ:SODA) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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SodaStream International Ltd. (SODA): Free Stock Analysis Report
Party City Holdco Inc. (PRTY): Free Stock Analysis Report
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