Shares of Party City Holdco Inc (NYSE:PRTY) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.67.

Several analysts recently commented on PRTY shares. BMO Capital Markets upgraded shares of Party City Holdco from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $11.20 to $16.00 in a research note on Tuesday, October 24th. Morgan Stanley reduced their price objective on shares of Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. JPMorgan Chase & Co. started coverage on shares of Party City Holdco in a research note on Monday, November 13th. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research note on Monday, December 4th.

Shares of Party City Holdco (NYSE:PRTY) traded up $0.20 during midday trading on Tuesday, hitting $15.30. 367,444 shares of the company traded hands, compared to its average volume of 728,691. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 0.51. Party City Holdco has a 12-month low of $9.50 and a 12-month high of $17.05. The firm has a market capitalization of $1,777.90, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.38 and a beta of 2.57.

Party City Holdco declared that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other Party City Holdco news, insider Michael A. Correale bought 5,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $12.14 per share, for a total transaction of $60,700.00. Following the completion of the transaction, the insider now owns 79,756 shares in the company, valued at approximately $968,237.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald C. Rittenberg sold 50,000 shares of Party City Holdco stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $14.00, for a total transaction of $700,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,642,979 shares of company stock valued at $277,826,948. 5.02% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. TIAA CREF Investment Management LLC grew its holdings in shares of Party City Holdco by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock worth $1,097,000 after buying an additional 205 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of 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 worth $1,525,000 after buying an additional 608 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 worth $392,000 after buying an additional 894 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Party City Holdco by 2.6% during the second quarter. Teachers Advisors LLC now owns 52,572 shares of the specialty retailer’s stock worth $823,000 after buying an additional 1,343 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Party City Holdco by 15.0% during the second quarter. Wells Fargo & Company MN now owns 45,345 shares of the specialty retailer’s stock worth $710,000 after buying an additional 5,930 shares in the last quarter.

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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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