Party City Holdco Inc. (PRTY) Price Target Cut to $15.50
Party City Holdco Inc. (NYSE:PRTY) had its price objective cut by stock analysts at Morgan Stanley from $17.00 to $15.50 in a research report issued on Wednesday. The firm currently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s target price points to a potential upside of 35.08% from the company’s previous close.
PRTY has been the subject of several other research reports. Zacks Investment Research cut Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub cut Party City Holdco from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.38.
Party City Holdco (NYSE PRTY) traded down $0.50 during midday trading on Wednesday, reaching $11.20. The company’s stock had a trading volume of 1,574,122 shares, compared to its average volume of 455,209. The stock has a market capitalization of $1,171.39, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54. The company has a quick ratio of 0.49, a current ratio of 1.71 and a debt-to-equity ratio of 1.46. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.70.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $560.11 million during the quarter, compared to analysts’ expectations of $587.74 million. Party City Holdco had a return on equity of 13.97% and a net margin of 4.97%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. analysts expect that Party City Holdco will post 1.25 earnings per share for the current year.
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In other Party City Holdco news, insider Ryan T. Vero bought 2,921 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $13.70 per share, for a total transaction of $40,017.70. Following the transaction, the insider now directly owns 2,921 shares in the company, valued at $40,017.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.02% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in PRTY. Monarch Partners Asset Management LLC bought a new stake in shares of Party City Holdco during the 2nd quarter valued at about $8,839,000. Citadel Advisors LLC boosted its position in shares of Party City Holdco by 145.6% during the 3rd quarter. Citadel Advisors LLC now owns 479,027 shares of the specialty retailer’s stock valued at $6,491,000 after purchasing an additional 283,987 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Party City Holdco by 13.7% during the 2nd quarter. Jennison Associates LLC now owns 1,952,887 shares of the specialty retailer’s stock valued at $30,563,000 after purchasing an additional 235,322 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Party City Holdco by 18.5% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,377,866 shares of the specialty retailer’s stock valued at $18,670,000 after purchasing an additional 215,136 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of Party City Holdco by 16.0% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,412,261 shares of the specialty retailer’s stock valued at $19,136,000 after purchasing an additional 194,516 shares in the last quarter.
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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