PJT Partners (NYSE:PJT) Given “Market Perform” Rating at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a research note issued on Wednesday, Benzinga reports. They presently have a $159.00 target price on the financial services provider’s stock, down from their prior target price of $195.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 13.75% from the stock’s previous close.

A number of other equities analysts have also weighed in on PJT. The Goldman Sachs Group cut their target price on shares of PJT Partners from $203.00 to $182.00 and set a “buy” rating for the company in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. BMO Capital Markets reiterated an “outperform” rating on shares of PJT Partners in a research report on Tuesday. Finally, Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $170.00.

PJT Partners Trading Up 1.3%

Shares of NYSE PJT opened at $139.78 on Wednesday. The stock has a fifty day simple moving average of $165.57 and a two-hundred day simple moving average of $158.37. PJT Partners has a 1-year low of $127.73 and a 1-year high of $195.62. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 19.12 and a beta of 0.89.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.40. The firm had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. Analysts forecast that PJT Partners will post 8 EPS for the current year.

Insider Activity

In other PJT Partners news, Director Emily Rafferty sold 1,100 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $167.35, for a total transaction of $184,085.00. Following the completion of the sale, the director owned 9,568 shares of the company’s stock, valued at $1,601,204.80. This represents a 10.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Costos sold 1,723 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total transaction of $301,525.00. Following the completion of the transaction, the director owned 11,289 shares in the company, valued at $1,975,575. The trade was a 13.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PJT Partners

Several institutional investors and hedge funds have recently bought and sold shares of PJT. Grandeur Peak Global Advisors LLC boosted its holdings in PJT Partners by 12.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 57,926 shares of the financial services provider’s stock valued at $8,743,000 after acquiring an additional 6,216 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of PJT Partners by 619.0% during the 2nd quarter. Squarepoint Ops LLC now owns 157,151 shares of the financial services provider’s stock valued at $23,720,000 after purchasing an additional 135,294 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of PJT Partners during the second quarter valued at about $4,604,000. California State Teachers Retirement System lifted its holdings in PJT Partners by 27.3% in the first quarter. California State Teachers Retirement System now owns 27,881 shares of the financial services provider’s stock worth $3,896,000 after buying an additional 5,980 shares during the period. Finally, Sei Investments Co. boosted its position in PJT Partners by 331.0% during the 1st quarter. Sei Investments Co. now owns 57,283 shares of the financial services provider’s stock valued at $8,004,000 after acquiring an additional 43,993 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc (NYSE:PJT) is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.