PJT Partners (NYSE:PJT) Stock Rating Upgraded by 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.

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

PJT Partners Stock 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 company has a market capitalization of $3.89 billion, a PE ratio of 21.96 and a beta of 0.85. The firm’s 50 day moving average is $154.93 and its 200-day moving average is $157.54.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, sell-side analysts expect that PJT Partners will post 7.5 EPS for the current year.

Insider Activity at PJT Partners

In related news, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were 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 owned 2,052 shares in the company, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP raised its position in shares of PJT Partners by 40.4% in the first quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider’s stock valued at $115,204,000 after purchasing an additional 237,428 shares during the period. Geode Capital Management LLC grew its stake in PJT Partners by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock valued at $114,195,000 after buying an additional 16,388 shares during the last quarter. Morgan Stanley grew its stake in PJT Partners by 7.5% in the 4th quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock valued at $110,307,000 after buying an additional 45,758 shares during the last quarter. Congress Asset Management Co. raised its holdings in PJT Partners by 9.9% in the 4th quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock valued at $97,632,000 after acquiring an additional 52,548 shares during the period. Finally, Invesco Ltd. raised its holdings in PJT Partners by 3.2% in the 4th quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock valued at $89,595,000 after acquiring an additional 16,445 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.