Party City Holdco (NYSE:PRTY) has been given a $18.00 price target by investment analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday, January 11th. The brokerage presently has a “buy” rating on the specialty retailer’s stock. BMO Capital Markets’ price target would indicate a potential upside of 13.21% from the company’s current price.
Several other brokerages also recently issued reports on PRTY. Bank of America set a $16.00 target price on shares of Party City Holdco and gave the company a “hold” rating in a research report on Thursday, December 28th. Zacks Investment Research raised shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Saturday, September 16th. ValuEngine raised shares of Party City Holdco from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Morgan Stanley decreased their target price 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price (up previously from $17.00) on shares of Party City Holdco in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.43.
Shares of Party City Holdco (NYSE:PRTY) traded up $0.05 during midday trading on Thursday, reaching $15.90. 748,868 shares of the company traded hands, compared to its average volume of 815,236. Party City Holdco has a fifty-two week low of $9.50 and a fifty-two week high of $17.05. The firm has a market capitalization of $1,900.00 and a price-to-earnings ratio of 16.56. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 0.51.
Party City Holdco (NYSE:PRTY) last posted its earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $560.11 million for the quarter, compared to analyst estimates of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. equities research analysts anticipate 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 share repurchase program on Thursday, November 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Correale bought 5,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $12.14 per share, with a total value of $60,700.00. Following the purchase, the insider now owns 79,756 shares in the company, valued at approximately $968,237.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 22,642,979 shares of company stock valued at $277,826,948. 5.02% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its stake in Party City Holdco by 28.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 132,490 shares of the specialty retailer’s stock worth $1,849,000 after purchasing an additional 29,498 shares in the last quarter. Rubric Capital Management LP raised its stake in Party City Holdco by 100.0% in the 3rd quarter. Rubric Capital Management LP now owns 782,135 shares of the specialty retailer’s stock worth $10,598,000 after purchasing an additional 390,970 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Party City Holdco in the 3rd quarter worth about $1,260,000. Neuberger Berman Group LLC raised its stake in Party City Holdco by 36.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock worth $45,052,000 after purchasing an additional 890,188 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in Party City Holdco by 5.4% in the 3rd quarter. Bamco Inc. NY now owns 2,565,000 shares of the specialty retailer’s stock worth $34,756,000 after purchasing an additional 131,500 shares in the last quarter.
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About Party City Holdco
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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