BMO Capital Markets set a $18.00 target price on Party City Holdco (NYSE:PRTY) in a report published on Thursday. The brokerage currently has a buy rating on the specialty retailer’s stock.
A number of other equities analysts have also recently commented on PRTY. Zacks Investment Research cut shares of Party City Holdco from a buy rating to a hold rating in a research note on Thursday, September 14th. ValuEngine raised shares of Party City Holdco from a hold rating to a buy rating in a research note on Friday, October 13th. Morgan Stanley lowered their price objective on shares of Party City Holdco from $17.00 to $15.50 and set an equal weight rating for the company in a research report on Wednesday, November 8th. JPMorgan Chase & Co. started coverage on shares of Party City Holdco in a research report on Monday, November 13th. They issued an overweight rating and a $14.00 price objective for the company. Finally, Telsey Advisory Group boosted their price objective on shares of Party City Holdco from $16.00 to $17.00 and gave the company an outperform rating in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $16.43.
Party City Holdco (NYSE:PRTY) traded down $0.25 during mid-day trading on Thursday, hitting $15.50. 951,900 shares of the company were exchanged, compared to its average volume of 905,100. Party City Holdco has a 52-week low of $9.50 and a 52-week high of $17.05. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. The stock has a market cap of $1,849.49, a PE ratio of 16.15, a PEG ratio of 0.41 and a beta of 2.71.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The firm had revenue of $560.11 million during the quarter, compared to analysts’ expectations of $587.74 million. During the same period in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. equities research analysts predict that Party City Holdco will post 1.21 earnings per share for the current fiscal year.
Party City Holdco announced that its board has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Party City Holdco news, CEO James M. Harrison purchased 20,000 shares of Party City Holdco stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $11.27 per share, for a total transaction of $225,400.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder International Corp/Ma Advent sold 19,841,694 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $12.20, for a total transaction of $242,068,666.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,642,979 shares of company stock valued at $277,826,948. 5.02% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Parallax Volatility Advisers L.P. bought a new stake in shares of Party City Holdco in the 2nd quarter valued at about $127,000. SG Americas Securities LLC bought a new stake in shares of Party City Holdco in the 3rd quarter valued at about $176,000. Pacad Investment Ltd. raised its holdings in shares of Party City Holdco by 6.1% in the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after purchasing an additional 700 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Party City Holdco in the 2nd quarter valued at about $202,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Party City Holdco in the 3rd quarter valued at about $327,000.
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Party City Holdco Company Profile
Party City Holdco Inc 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).
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