News coverage about Party City Holdco (NYSE:PRTY) has been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Party City Holdco earned a daily sentiment score of 0.12 on Accern’s scale. Accern also assigned news coverage about the specialty retailer an impact score of 48.7707299394742 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
A number of research firms have issued reports on PRTY. BMO Capital Markets set a $18.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Thursday, January 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 target price (up from $17.00) on shares of Party City Holdco in a report on Thursday, January 11th. ValuEngine raised shares of Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, Bank of America set a $16.00 target price on shares of Party City Holdco and gave the company a “hold” rating in a report on Thursday, December 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.43.
Party City Holdco (NYSE:PRTY) opened at $15.10 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. The firm has a market cap of $1,777.90, a P/E ratio of 15.73, a PEG ratio of 0.38 and a beta of 2.57. Party City Holdco has a 1-year low of $9.50 and a 1-year high of $17.05.
Party City Holdco declared that its board has authorized a stock repurchase plan on Thursday, November 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Gerald C. Rittenberg sold 100,000 shares of Party City Holdco stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael A. Correale purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the purchase, the insider now directly owns 79,756 shares in the company, valued at approximately $968,237.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,642,979 shares of company stock valued at $277,826,948. Insiders own 5.02% of the company’s stock.
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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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