PJT Partners (NYSE:PJT) Upgraded to Outperform at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a $166.00 price target on the financial services provider’s stock, down from their prior price target of $180.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 17.28% from the stock’s current price.

Several other research firms have also commented on PJT. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Wednesday, April 1st. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. Finally, UBS Group cut their target price on shares of PJT Partners from $180.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.33.

PJT Partners Price Performance

PJT stock opened at $141.55 on Wednesday. PJT Partners has a 12 month low of $122.99 and a 12 month high of $195.62. The firm has a market cap of $3.42 billion, a PE ratio of 21.32 and a beta of 0.88. The firm has a 50 day simple moving average of $147.46 and a 200 day simple moving average of $164.64.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. During the same period in the prior year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that PJT Partners will post 6.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PJT. CWM LLC grew its stake in PJT Partners by 50.8% in the 3rd quarter. CWM LLC now owns 181 shares of the financial services provider’s stock valued at $32,000 after buying an additional 61 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in PJT Partners by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider’s stock valued at $930,000 after buying an additional 64 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in PJT Partners by 0.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider’s stock valued at $2,397,000 after buying an additional 66 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in PJT Partners by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 67 shares during the period. Finally, M&T Bank Corp boosted its holdings in PJT Partners by 3.3% in the 2nd quarter. M&T Bank Corp now owns 2,302 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Company Profile

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.