Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for PJT Partners (NYSE:PJT) Stock

PJT Partners (NYSE:PJT) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $151.00 to $159.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 2.31% from the stock’s previous close.

Several other research firms have also commented on PJT. JMP Securities lifted their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $175.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.00.

PJT Partners Stock Up 1.7 %

Shares of PJT opened at $155.41 on Friday. PJT Partners has a 52-week low of $88.51 and a 52-week high of $168.92. The stock has a market cap of $3.68 billion, a PE ratio of 39.44 and a beta of 0.65. The firm’s fifty day moving average is $154.70 and its two-hundred day moving average is $132.29.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. As a group, research analysts anticipate that PJT Partners will post 4.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Costos sold 1,500 shares of the firm’s 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 sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock valued at $762,980 in the last quarter. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of PJT Partners by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after purchasing an additional 100 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in PJT Partners by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock valued at $1,295,000 after buying an additional 158 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after buying an additional 20,845 shares during the period. Versor Investments LP acquired a new position in shares of PJT Partners in the second quarter valued at approximately $746,000. Finally, SouthState Corp bought a new stake in shares of PJT Partners during the second quarter worth $26,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About PJT Partners

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.