Party City Holdco (PRTY) Given New $15.00 Price Target at Telsey Advisory Group

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Party City Holdco (NYSE:PRTY) had its price objective trimmed by Telsey Advisory Group from $19.00 to $15.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has an outperform rating on the specialty retailer’s stock.

Several other analysts have also issued reports on PRTY. Zacks Investment Research lowered Party City Holdco from a hold rating to a sell rating in a research note on Friday, July 27th. ValuEngine lowered Party City Holdco from a hold rating to a sell rating in a research note on Wednesday, September 19th. JPMorgan Chase & Co. set a $19.00 target price on Party City Holdco and gave the stock a buy rating in a research note on Monday, October 1st. Morgan Stanley cut their target price on Party City Holdco from $16.00 to $15.00 and set an equal weight rating for the company in a research note on Thursday, October 11th. Finally, TheStreet lowered Party City Holdco from a b- rating to a c rating in a research note on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $17.33.

PRTY traded up $0.06 during midday trading on Friday, hitting $10.06. The stock had a trading volume of 4,667,084 shares, compared to its average volume of 1,998,955. The firm has a market cap of $966.70 million, a P/E ratio of 8.38, a P/E/G ratio of 0.25 and a beta of 2.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.27 and a quick ratio of 0.36. Party City Holdco has a 1 year low of $8.24 and a 1 year high of $16.95.

Party City Holdco (NYSE:PRTY) last issued its earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). The firm had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $591.77 million. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. On average, equities analysts anticipate that Party City Holdco will post 1.63 earnings per share for the current year.

In related news, Director Gerald C. Rittenberg sold 50,000 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total transaction of $704,000.00. Following the completion of the transaction, the director now owns 3,800 shares in the company, valued at $53,504. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total value of $155,000,000.00. The disclosure for this sale can be found here. 6.47% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PRTY. Royal Bank of Canada raised its holdings in Party City Holdco by 300.1% in the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 4,916 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Party City Holdco by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 194,711 shares of the specialty retailer’s stock worth $2,970,000 after purchasing an additional 23,320 shares in the last quarter. Spark Investment Management LLC bought a new position in Party City Holdco in the second quarter worth $1,659,000. Raymond James & Associates bought a new position in Party City Holdco in the second quarter worth $476,000. Finally, Game Creek Capital LP raised its holdings in Party City Holdco by 33.4% in the second quarter. Game Creek Capital LP now owns 65,100 shares of the specialty retailer’s stock worth $993,000 after purchasing an additional 16,300 shares in the last quarter.

About Party City Holdco

Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations.

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