Party City (NYSE:PRTY) Receives a Downgrade
It appears that trading for shares of Party City (NYSE:PRTY) will be interesting to watch today. BofA Merrill cut the stock from their past “Buy” rating to a more current “Neutral”.
From a total of 8 analysts covering Party City Holdco Inc (NYSE:PRTY) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $23 while the lowest target price is $17. The mean of all analyst targets is $20.13 with a 56.86% above today’s ($12.75) stock price. Party City Holdco Inc was the topic of 5 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on November 13 with “Outperform” rating.
Approximately 749,731 shares of stock traded hands. Party City Holdco Inc (NYSE:PRTY) has declined 36.12% since May 8, 2015 and is downtrending. It has underperformed by 33.10% the S&P500.
Party City Holdco Inc. is a designer, maker and distributor of decorated party supplies. The company has a market cap of $1.62 billion. The Firm operates in two divisions: Retail and Wholesale. It has 744.74 P/E ratio. The Company, through Retail segment, engages in the sale of merchandise through party goods stores and online through its e-commerce Websites, including www.PartyCity.com.
According to Zacks Investment Research, “Party City Holdco Inc. is involved in designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery. It also operates specialty retail party supply stores primarily in the United States and Canada. Party City Holdco Inc. is based in Elmsford, New York.” Get a free copy of the Zacks research report on Party City Holdco Inc (PRTY).