Telsey Advisory Group reaffirmed their outperform rating on shares of Party City Holdco (NYSE:PRTY) in a research report sent to investors on Thursday, Marketbeat.com reports. Telsey Advisory Group currently has a $19.00 price target on the specialty retailer’s stock, up from their previous price target of $17.00.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Party City Holdco from a buy rating to a hold rating in a research note on Thursday, September 14th. ValuEngine upgraded shares of Party City Holdco from a hold rating to a buy rating in a research note on Friday, October 13th. BMO Capital Markets upgraded shares of Party City Holdco from a market perform rating to an outperform rating and lifted their price target for the stock from $11.20 to $16.00 in a research note on Tuesday, October 24th. Morgan Stanley dropped their price target on shares of Party City Holdco from $17.00 to $15.50 and set an equal weight rating on the stock in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Party City Holdco in a research note on Monday, November 13th. They set an overweight rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $16.43.

Shares of Party City Holdco (NYSE PRTY) traded down $0.25 during mid-day trading on Thursday, reaching $15.50. 951,900 shares of the company traded hands, compared to its average volume of 905,100. Party City Holdco has a 52 week low of $9.50 and a 52 week high of $17.05. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $1,849.49, a PE ratio of 16.15, a P/E/G ratio of 0.41 and a beta of 2.71.

Party City Holdco (NYSE:PRTY) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $587.74 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. analysts predict that Party City Holdco will post 1.21 EPS for the current year.

Party City Holdco declared that its Board of Directors has authorized a stock buyback program on Thursday, November 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, insider Michael A. Correale acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the transaction, the insider now directly owns 79,756 shares of the company’s stock, valued at $968,237.84. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James M. Harrison acquired 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $11.27 per share, for a total transaction of $225,400.00. The disclosure for this purchase can be found here. Insiders have sold a total of 22,642,979 shares of company stock worth $277,826,948 in the last quarter. Corporate insiders own 5.02% of the company’s stock.

Several hedge funds have recently made changes to their positions in PRTY. Russell Investments Group Ltd. raised its position in shares of Party City Holdco by 1,255.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 53,857 shares of the specialty retailer’s stock valued at $843,000 after purchasing an additional 49,883 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Party City Holdco by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock valued at $1,525,000 after purchasing an additional 608 shares during the period. Rhumbline Advisers raised its position in shares of Party City Holdco by 7.6% during the 2nd quarter. Rhumbline Advisers now owns 33,211 shares of the specialty retailer’s stock valued at $520,000 after purchasing an additional 2,360 shares during the period. Bank of New York Mellon Corp raised its position in shares of Party City Holdco by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 191,945 shares of the specialty retailer’s stock valued at $3,004,000 after purchasing an additional 12,484 shares during the period. Finally, Pacad Investment Ltd. raised its position in shares of Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after purchasing an additional 700 shares during the period.

TRADEMARK VIOLATION WARNING: “Party City Holdco’s (PRTY) “Outperform” Rating Reiterated at Telsey Advisory Group” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://theolympiareport.com/2018/01/16/party-city-holdcos-prty-outperform-rating-reiterated-at-telsey-advisory-group.html.

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)

Receive News & Ratings for Party City Holdco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Party City Holdco and related companies with MarketBeat.com's FREE daily email newsletter.