PJT Partners (NYSE:PJT) Rating Increased to Hold at Zacks Research

PJT Partners (NYSE:PJT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently commented on PJT. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Wall Street Zen downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. UBS Group upped their target price on PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $173.33.

PJT Partners Trading Up 3.9%

NYSE PJT opened at $150.65 on Monday. PJT Partners has a 12 month low of $127.73 and a 12 month high of $195.62. The stock has a market cap of $3.89 billion, a PE ratio of 21.96 and a beta of 0.85. The stock’s 50 day moving average is $154.93 and its 200 day moving average is $157.54.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, analysts forecast that PJT Partners will post 7.5 EPS for the current fiscal year.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the transaction, the chief financial officer owned 58,466 shares in the company, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new position in PJT Partners during the 3rd quarter valued at about $33,000. Allworth Financial LP increased its holdings in PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after buying an additional 133 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in PJT Partners in the first quarter worth approximately $50,000. State of Wyoming purchased a new stake in PJT Partners during the second quarter worth $63,000. Finally, Kestra Advisory Services LLC bought a new stake in PJT Partners during the 4th quarter valued at $65,000. 89.23% of the stock is currently owned by institutional investors.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.