Party City Holdco (PRTY) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Party City Holdco (NYSE:PRTY) from a hold rating to a buy rating in a research report report published on Monday.

Several other equities research analysts also recently weighed in on PRTY. Zacks Investment Research downgraded Party City Holdco from a buy rating to a hold rating in a report on Tuesday, August 29th. BMO Capital Markets raised Party City Holdco from a market perform rating to an outperform rating and lifted their target price for the stock from $11.20 to $16.00 in a report on Tuesday, October 24th. Finally, Morgan Stanley decreased their target price on Party City Holdco from $17.00 to $15.50 and set an equal weight rating for the company in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $15.60.

Shares of Party City Holdco (NYSE PRTY) opened at $13.40 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1,628.33, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.13 and a beta of 2.71. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.45.

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, hitting the consensus estimate of $0.13. The business had revenue of $560.11 million during the quarter, compared to the consensus estimate of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. sell-side analysts forecast that Party City Holdco will post 1.21 EPS for the current year.

Party City Holdco declared that its Board of Directors has initiated a share buyback plan on Thursday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In related news, CEO James M. Harrison acquired 20,000 shares of the stock in a transaction on Monday, November 13th. The shares were bought at an average price of $11.27 per share, with a total value of $225,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 bought at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the purchase, the insider now directly owns 79,756 shares of the company’s stock, valued at approximately $968,237.84. The disclosure for this purchase can be found here. Insiders own 5.02% of the company’s stock.

Several institutional investors have recently made changes to their positions in PRTY. Legal & General Group Plc increased its holdings in Party City Holdco by 14.0% during the 1st quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 881 shares during the period. Parallax Volatility Advisers L.P. purchased a new stake in Party City Holdco during the 2nd quarter worth about $127,000. SG Americas Securities LLC purchased a new stake in Party City Holdco during the 3rd quarter worth about $176,000. Pacad Investment Ltd. increased its holdings in Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after purchasing an additional 700 shares during the period. Finally, Voya Investment Management LLC purchased a new position in shares of Party City Holdco in the 2nd quarter valued at about $202,000.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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