Media stories about Party City Holdco (NYSE:PRTY) have been trending somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Party City Holdco earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media headlines about the specialty retailer an impact score of 45.7152839572958 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- BMO Capital Markets Reaffirms “Buy” Rating for Party City Holdco (PRTY) (americanbankingnews.com)
- Party City Holdco (PRTY) Price Target Raised to $19.00 (americanbankingnews.com)
- Wall Street Target Update on Shares of Party City Holdco Inc. (NYSE:PRTY) – Clawson News (clawsonnews.com)
- What The Technicals Are Telling Us About Party City Holdco Inc. (NYSE:PRTY), AK Steel Holding Corporation (NYSE … – Clawson News (clawsonnews.com)
Shares of Party City Holdco (PRTY) traded down $0.25 during midday trading on Friday, reaching $15.50. 951,909 shares of the company were exchanged, compared to its average volume of 935,980. Party City Holdco has a 52 week low of $9.50 and a 52 week high of $17.05. The stock has a market cap of $1,879.32, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.43 and a beta of 2.71. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The company had revenue of $560.11 million during the quarter, compared to analyst estimates of $587.74 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. equities research analysts predict that Party City Holdco will post 1.21 earnings per share for the current year.
Party City Holdco announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
PRTY has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Party City Holdco from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Bank of America lifted their price objective on Party City Holdco from $13.50 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, December 27th. JPMorgan Chase & Co. began coverage on Party City Holdco in a research report on Monday, November 13th. They set an “overweight” rating and a $14.00 price objective on the stock. Morgan Stanley cut their price objective on Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 14th. Finally, ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.43.
In other news, major shareholder International Corp/Ma Advent sold 2,558,306 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $12.67, for a total value of $32,413,737.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Harrison acquired 20,000 shares of Party City Holdco stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $11.27 per share, with a total value of $225,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 22,642,979 shares of company stock valued at $277,826,948. Company insiders own 5.02% of the company’s stock.
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About Party City Holdco
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).
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