Party City Holdco Inc. (PRTY) Given New $14.00 Price Target at Morgan Stanley

Party City Holdco Inc. (NYSE:PRTY) had its price objective trimmed by Morgan Stanley from $15.50 to $14.00 in a report published on Tuesday morning. The firm currently has an equal weight rating on the specialty retailer’s stock.

PRTY has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Party City Holdco from a buy rating to a hold rating in a research report on Tuesday, August 29th. ValuEngine upgraded shares of Party City Holdco from a hold rating to a buy rating in a research report on Friday, October 13th. Finally, BMO Capital Markets upgraded shares of Party City Holdco from a market perform rating to an outperform rating and increased their target price for the company from $11.20 to $16.00 in a research report on Tuesday, October 24th. 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. Party City Holdco currently has a consensus rating of Hold and an average target price of $15.60.

Party City Holdco (NYSE PRTY) traded up $0.35 during trading on Tuesday, hitting $11.60. 1,083,500 shares of the stock traded hands, compared to its average volume of 468,565. The company has a market capitalization of $1,346.96, a price-to-earnings ratio of 9.45, a P/E/G ratio of 0.92 and a beta of 2.54. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43. Party City Holdco has a fifty-two week low of $9.50 and a fifty-two week high of $17.70.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $560.11 million during the quarter, compared to analyst estimates of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. research analysts expect that Party City Holdco will post 1.23 earnings per share for the current year.

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

In other Party City Holdco news, CEO James M. Harrison purchased 20,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $11.27 per share, with a total value of $225,400.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 5.02% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC lifted its holdings in Party City Holdco by 0.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock valued at $1,097,000 after acquiring an additional 205 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Party City Holdco by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock valued at $1,525,000 after buying an additional 608 shares in the last quarter. Pacad Investment Ltd. lifted its stake in Party City Holdco by 6.1% during the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after buying an additional 700 shares in the last quarter. Legal & General Group Plc lifted its stake in Party City Holdco by 14.0% during the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 881 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Party City Holdco by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the specialty retailer’s stock valued at $392,000 after buying an additional 894 shares in the last quarter.

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).

Analyst Recommendations for Party City Holdco (NYSE:PRTY)

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