Party City Holdco Inc. (NYSE:PRTY) had its price target dropped by investment analysts at Morgan Stanley from $15.50 to $14.00 in a report issued on Tuesday. The brokerage currently has an “equal weight” rating on the specialty retailer’s stock. Morgan Stanley’s price target would indicate a potential upside of 25.90% from the company’s previous close.

Other analysts also recently issued research reports about the company. BidaskClub downgraded Party City Holdco from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co began coverage on Party City Holdco in a report on Monday. They issued an “overweight” rating and a $14.00 price target on the stock. BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the stock a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Party City Holdco from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, September 8th. Finally, ValuEngine downgraded Party City Holdco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.60.

Shares of Party City Holdco (PRTY) traded down $0.12 during midday trading on Tuesday, hitting $11.12. The company had a trading volume of 71,760 shares, compared to its average volume of 1,040,000. The company has a market cap of $1,330.00 and a P/E ratio of 9.41. Party City Holdco has a 1-year low of $9.50 and a 1-year high of $17.70. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $560.11 million for the quarter, compared to the consensus estimate of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. equities research analysts forecast that Party City Holdco will post 1.25 earnings per share for the current year.

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

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In other Party City Holdco news, insider Ryan T. Vero bought 2,921 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average price of $13.70 per share, with a total value of $40,017.70. Following the purchase, the insider now directly owns 2,921 shares of the company’s stock, valued at $40,017.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.02% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. King Luther Capital Management Corp increased its position in shares of Party City Holdco by 28.3% during the 3rd quarter. King Luther Capital Management Corp now owns 213,900 shares of the specialty retailer’s stock valued at $2,898,000 after purchasing an additional 47,200 shares during the period. Elk Creek Partners LLC increased its position in shares of Party City Holdco by 6.6% during the 3rd quarter. Elk Creek Partners LLC now owns 645,103 shares of the specialty retailer’s stock valued at $8,741,000 after purchasing an additional 39,793 shares during the period. Poplar Forest Capital LLC increased its position in shares of Party City Holdco by 20.1% during the 3rd quarter. Poplar Forest Capital LLC now owns 58,650 shares of the specialty retailer’s stock valued at $795,000 after purchasing an additional 9,800 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Party City Holdco by 5.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 102,992 shares of the specialty retailer’s stock valued at $1,396,000 after purchasing an additional 5,587 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Party City Holdco by 145.6% during the 3rd quarter. Citadel Advisors LLC now owns 479,027 shares of the specialty retailer’s stock valued at $6,491,000 after purchasing an additional 283,987 shares during the period.

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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