Party City Holdco (NYSE:PRTY) has been given a $20.00 price target by investment analysts at BMO Capital Markets in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 27.80% from the company’s previous close.
A number of other equities research analysts have also commented on PRTY. JPMorgan Chase & Co. started coverage on Party City Holdco in a research report on Monday, November 13th. They issued an “overweight” rating and a $14.00 target price on the stock. Morgan Stanley dropped their target price on Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 14th. ValuEngine upgraded Party City Holdco from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Telsey Advisory Group boosted their price target on Party City Holdco from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Finally, Bank of America reissued a “neutral” rating and issued a $15.50 price target (up from $13.50) on shares of Party City Holdco in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.50.
Shares of Party City Holdco (NYSE PRTY) remained flat at $$15.65 during midday trading on Monday. 1,720,404 shares of the company were exchanged, compared to its average volume of 768,902. The stock has a market cap of $1,867.39, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.40 and a beta of 2.37. Party City Holdco has a 1 year low of $9.50 and a 1 year high of $17.05. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43.
In other news, major shareholder International Corp/Ma Advent sold 19,841,694 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $12.20, for a total transaction of $242,068,666.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald C. Rittenberg sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $14.00, for a total value of $700,000.00. The disclosure for this sale can be found here. Insiders sold 20,041,694 shares of company stock valued at $244,868,667 over the last three months. 5.02% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. ZWJ Investment Counsel Inc. acquired a new position in shares of Party City Holdco during the 4th quarter worth approximately $167,000. Stone Ridge Asset Management LLC acquired a new position in shares of Party City Holdco during the 4th quarter worth approximately $168,000. SG Americas Securities LLC acquired a new position in shares of Party City Holdco during the 3rd quarter worth approximately $176,000. MetLife Investment Advisors LLC acquired a new position in shares of Party City Holdco during the 4th quarter worth approximately $191,000. Finally, Voya Investment Management LLC acquired a new position in Party City Holdco in the 2nd quarter valued at $202,000. 83.62% of the stock is owned by institutional investors and hedge funds.
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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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