Party City Holdco (PRTY) Price Target Cut to $15.00

Party City Holdco (NYSE:PRTY) had its target price lowered by Morgan Stanley from $16.00 to $15.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s target price suggests a potential upside of 32.74% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. set a $19.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a research note on Monday, October 1st. Two equities 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 presently has a consensus rating of “Hold” and an average target price of $19.33.

PRTY stock opened at $11.30 on Thursday. 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 52-week low of $9.50 and a 52-week high of $16.95. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.34 and a beta of 2.07.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, August 9th. The specialty retailer reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The company had revenue of $561.00 million during the quarter, compared to analysts’ expectations of $560.95 million. During the same period in the prior year, the company earned $0.28 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Party City Holdco will post 1.83 EPS for the current fiscal year.

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $704,000.00. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $53,504. The disclosure for this sale can be found here. 6.47% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position 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. Mount Yale Investment Advisors LLC acquired a new position in Party City Holdco in the first quarter worth about $145,000. NumerixS Investment Technologies Inc acquired a new position in Party City Holdco in the second quarter worth about $183,000. BlueMountain Capital Management LLC acquired a new position in Party City Holdco in the second quarter worth about $203,000. Finally, California Public Employees Retirement System acquired a new position in Party City Holdco in the second quarter worth about $204,000.

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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