PJT Partners (NYSE:PJT) Price Target Raised to $177.00

PJT Partners (NYSE:PJT) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $152.00 to $177.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 1.56% from the company’s previous close.

A number of other brokerages have also weighed in on PJT. JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and a consensus target price of $158.50.

PJT Partners Price Performance

NYSE PJT traded up $0.51 during trading on Wednesday, reaching $174.28. The company’s stock had a trading volume of 71,866 shares, compared to its average volume of 231,244. The stock has a market capitalization of $4.13 billion, a PE ratio of 44.50 and a beta of 0.67. The firm has a fifty day moving average of $160.59 and a 200 day moving average of $144.05. PJT Partners has a one year low of $88.51 and a one year high of $190.27.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. The business had revenue of $477.30 million for the quarter, compared to analyst estimates of $384.64 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. Research analysts expect that PJT Partners will post 4.2 earnings per share for the current fiscal year.

Insider Activity at PJT Partners

In related news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This represents a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 in the last ninety days. 11.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On PJT Partners

Large investors have recently made changes to their positions in the business. Quarry LP grew its position in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the last quarter. Principal Securities Inc. grew its position in shares of PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after buying an additional 158 shares during the last quarter. GAMMA Investing LLC grew its position in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after buying an additional 146 shares during the last quarter. KBC Group NV grew its position in shares of PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after buying an additional 426 shares during the last quarter. Finally, Seneca House Advisors bought a new stake in shares of PJT Partners in the 4th quarter worth approximately $202,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.