Party City Holdco (PRTY) PT Lowered to $15.00 at Telsey Advisory Group

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

Other equities research analysts have also recently issued reports about the company. Barclays raised Party City Holdco from an equal weight rating to an overweight rating and set a $16.00 target price on the stock in a research note on Friday. Zacks Investment Research cut Party City Holdco from a hold rating to a sell rating in a research report on Friday, July 27th. TheStreet cut Party City Holdco from a b- rating to a c rating in a research report on Thursday, October 11th. ValuEngine raised Party City Holdco from a strong sell rating to a sell rating in a research report on Thursday, October 18th. Finally, Morgan Stanley dropped their price objective on Party City Holdco from $16.00 to $15.00 and set an equal weight rating on the stock in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $17.33.

Shares of NYSE PRTY traded up $0.06 during trading on Friday, reaching $10.06. The company had a trading volume of 4,667,084 shares, compared to its average volume of 1,998,955. Party City Holdco has a 12-month low of $8.24 and a 12-month high of $16.95. The stock 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 current ratio of 1.27, a quick ratio of 0.36 and a debt-to-equity ratio of 1.54.

Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The company had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $591.77 million. During the same period in the prior year, the company posted $0.13 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. As a group, analysts forecast that Party City Holdco will post 1.63 earnings per share for the current fiscal year.

In other Party City Holdco news, Director Gerald C. Rittenberg sold 50,000 shares of the stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the transaction, the director now owns 3,800 shares of the company’s stock, valued at $53,504. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the stock in a transaction dated 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. Company insiders own 6.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted 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 valued at $101,000 after acquiring an additional 4,916 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Party City Holdco by 20.7% in the first quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the specialty retailer’s stock valued at $456,000 after acquiring an additional 5,008 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Party City Holdco by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 42,407 shares of the specialty retailer’s stock valued at $646,000 after acquiring an additional 5,808 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Party City Holdco by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 45,907 shares of the specialty retailer’s stock valued at $623,000 after acquiring an additional 5,941 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Party City Holdco by 26.3% in the first quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 6,878 shares during the period.

Party City Holdco Company Profile

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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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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