Party City Holdco Inc (PRTY) to Post FY2018 Earnings of $1.90 Per Share, William Blair Forecasts

Party City Holdco Inc (NYSE:PRTY) – Analysts at William Blair increased their FY2018 earnings estimates for shares of Party City Holdco in a research report issued to clients and investors on Wednesday. William Blair analyst D. Hofkin now anticipates that the specialty retailer will earn $1.90 per share for the year, up from their previous forecast of $1.60.

A number of other brokerages have also recently issued reports on PRTY. BMO Capital Markets upgraded shares of Party City Holdco from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $11.20 to $16.00 in a research report on Tuesday, October 24th. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Morgan Stanley cut their target price on shares of Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. JPMorgan Chase & Co. began coverage on shares of Party City Holdco in a research report on Monday, November 13th. They set an “overweight” rating and a $14.00 target price for the company. Finally, Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.43.

Party City Holdco (NYSE PRTY) traded down $0.25 during mid-day trading on Monday, reaching $15.50. 951,900 shares of the company were exchanged, compared to its average volume of 905,100. The stock has a market capitalization of $1,849.49, a P/E ratio of 16.15, a P/E/G ratio of 0.41 and a beta of 2.71. Party City Holdco has a 52-week low of $9.50 and a 52-week high of $17.05. 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 released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $560.11 million for the quarter, compared to the consensus estimate of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share.

Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its position in Party City Holdco by 36.6% during the third quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock worth $45,052,000 after purchasing an additional 890,188 shares during the last quarter. Bamco Inc. NY increased its position in Party City Holdco by 5.4% during the third quarter. Bamco Inc. NY now owns 2,565,000 shares of the specialty retailer’s stock worth $34,756,000 after purchasing an additional 131,500 shares during the last quarter. Vanguard Group Inc. increased its position in Party City Holdco by 3.6% during the second quarter. Vanguard Group Inc. now owns 2,405,039 shares of the specialty retailer’s stock worth $37,639,000 after purchasing an additional 82,978 shares during the last quarter. Peregrine Capital Management LLC increased its position in Party City Holdco by 16.0% during the third quarter. Peregrine Capital Management LLC now owns 1,412,261 shares of the specialty retailer’s stock worth $19,136,000 after purchasing an additional 194,516 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its position in Party City Holdco by 18.5% during the third quarter. Rice Hall James & Associates LLC now owns 1,377,866 shares of the specialty retailer’s stock worth $18,670,000 after purchasing an additional 215,136 shares during the last quarter.

In other news, CEO James M. Harrison acquired 20,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $11.27 per share, with a total value of $225,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The shares were 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.

Party City Holdco declared that its Board of Directors has approved a stock repurchase program on Thursday, November 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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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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