Party City Holdco Inc (PRTY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Party City Holdco Inc (NYSE:PRTY) have received an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.67.

Several research analysts have weighed in on the stock. BMO Capital Markets set a $18.00 target price on shares of Party City Holdco and gave the stock a “buy” rating in a research note on Thursday, January 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 target price (up previously from $17.00) on shares of Party City Holdco in a research note on Thursday, January 11th. ValuEngine raised shares of Party City Holdco from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Bank of America set a $16.00 target price on shares of Party City Holdco and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Friday, December 29th.

In other Party City Holdco news, CEO James M. Harrison acquired 20,000 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $11.27 per share, with a total value of $225,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder International Corp/Ma Advent sold 2,558,306 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $12.67, for a total transaction of $32,413,737.02. The disclosure for this sale can be found here. In the last three months, insiders sold 22,642,979 shares of company stock valued at $277,826,948. Insiders own 5.02% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its stake in Party City Holdco by 0.3% in the second quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock worth $1,097,000 after acquiring an additional 205 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Party City Holdco by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock worth $1,525,000 after acquiring an additional 608 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Party City Holdco by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the specialty retailer’s stock worth $392,000 after acquiring an additional 894 shares during the last quarter. Teachers Advisors LLC lifted its stake in Party City Holdco by 2.6% in the second quarter. Teachers Advisors LLC now owns 52,572 shares of the specialty retailer’s stock worth $823,000 after acquiring an additional 1,343 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Party City Holdco by 7.6% in the second quarter. Rhumbline Advisers now owns 33,211 shares of the specialty retailer’s stock worth $520,000 after acquiring an additional 2,360 shares during the last quarter.

Party City Holdco (NYSE PRTY) traded up $0.05 during trading on Friday, reaching $15.55. 486,700 shares of the company traded hands, compared to its average volume of 831,108. Party City Holdco has a 52-week low of $9.50 and a 52-week high of $17.05. The firm has a market capitalization of $1,849.49, a PE ratio of 16.20, a P/E/G ratio of 0.41 and a beta of 2.71. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43.

Party City Holdco (NYSE:PRTY) last announced 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 during 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%. Party City Holdco’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. research analysts anticipate that Party City Holdco will post 1.21 earnings per share for the current fiscal year.

Party City Holdco declared that its board has approved a stock buyback plan on Thursday, November 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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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).

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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