Party City Holdco (PRTY) PT Set at $16.00 by Credit Suisse Group

Party City Holdco (NYSE:PRTY) received a $16.00 price target from investment analysts at Credit Suisse Group in a research note issued on Friday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Credit Suisse Group’s target price points to a potential upside of 59.05% from the stock’s current price.

A number of other analysts have also recently commented on the company. Deutsche Bank set a $12.00 price target on Party City Holdco and gave the stock a “buy” rating in a research report on Friday. Telsey Advisory Group decreased their price objective on Party City Holdco from $19.00 to $15.00 and set an “outperform” rating for the company in a report on Friday. Barclays raised Party City Holdco from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Friday. ValuEngine cut Party City Holdco from a “sell” rating to a “strong sell” rating in a report on Monday, October 29th. Finally, TheStreet cut Party City Holdco from a “b-” rating to a “c” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.33.

Shares of PRTY opened at $10.06 on Friday. Party City Holdco has a one year low of $8.24 and a one year high of $16.95. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. The stock has a market cap of $964.77 million, a price-to-earnings ratio of 7.41, a PEG ratio of 0.28 and a beta of 2.19.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.09). Party City Holdco had a return on equity of 14.92% and a net margin of 8.70%. The firm had revenue of $553.00 million for the quarter, compared to analyst estimates of $591.77 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Party City Holdco will post 1.63 earnings per share for the current year.

In other news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s 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 completion of the transaction, the director now owns 3,800 shares of the company’s stock, valued at approximately $53,504. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the business’s 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. Insiders own 6.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Party City Holdco by 300.1% in the 1st 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 during the period. Commonwealth Bank of Australia acquired a new position in Party City Holdco in the 3rd quarter worth about $130,000. NumerixS Investment Technologies Inc acquired a new position in Party City Holdco in the 2nd quarter worth about $183,000. BlueMountain Capital Management LLC acquired a new position in Party City Holdco in the 2nd quarter worth about $203,000. Finally, California Public Employees Retirement System acquired a new position in Party City Holdco in the 2nd quarter worth about $204,000.

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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Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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