Party City Holdco Inc (PRTY) Receives Average Recommendation of “Hold” from Brokerages

Party City Holdco Inc (NYSE:PRTY) has been given an average recommendation of “Hold” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.67.

PRTY has been the topic of a number of recent analyst reports. 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. BMO Capital Markets set a $18.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research downgraded shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Morgan Stanley dropped their target price on shares of Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price (up from $17.00) on shares of Party City Holdco in a research report on Thursday, January 11th.

In other Party City Holdco news, Director Jefferson M. Case sold 42,979 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $12.67, for a total transaction of $544,543.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Correale acquired 5,000 shares of the stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the completion of the transaction, the insider now directly owns 79,756 shares in the company, valued at approximately $968,237.84. The disclosure for this purchase can be found here. Insiders have sold a total of 22,642,979 shares of company stock worth $277,826,948 over the last three months. 5.02% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC grew its position in Party City Holdco by 36.6% during 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 during the last quarter. Bamco Inc. NY grew its position in Party City Holdco by 5.4% during 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 during the last quarter. Vanguard Group Inc. grew its position in Party City Holdco by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,405,039 shares of the specialty retailer’s stock worth $37,639,000 after purchasing an additional 82,978 shares during the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Party City Holdco by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 1,421,147 shares of the specialty retailer’s stock worth $19,825,000 after acquiring an additional 8,886 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of Party City Holdco by 18.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,377,866 shares of the specialty retailer’s stock worth $18,670,000 after acquiring an additional 215,136 shares during the period.

Shares of Party City Holdco (PRTY) traded up $0.20 on Tuesday, hitting $15.30. 367,444 shares of the stock were exchanged, compared to its average volume of 728,691. 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 cap of $1,777.90, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.38 and a beta of 2.57. 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 declared that its board has approved a share buyback plan on Thursday, November 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors 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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