PJT Partners (NYSE:PJT) Stock Rating Upgraded by UBS Group

PJT Partners (NYSE:PJT) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $175.00 price objective on the financial services provider’s stock, up from their previous price objective of $130.00. UBS Group’s price objective indicates a potential upside of 6.57% from the stock’s current price.

Separately, JMP Securities raised their price objective on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.80.

PJT Partners Trading Up 1.8 %

PJT stock opened at $164.21 on Friday. The stock has a 50-day moving average price of $150.28 and a two-hundred day moving average price of $128.60. The stock has a market cap of $3.89 billion, a PE ratio of 41.68 and a beta of 0.65. PJT Partners has a 1 year low of $88.51 and a 1 year high of $168.92.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data 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 company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. PJT Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, analysts forecast that PJT Partners will post 4.4 earnings per share for the current fiscal year.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total transaction of $245,296.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $242,115.00. Following the sale, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,766 shares of company stock worth $762,980. Insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Several hedge funds have recently bought and sold shares of PJT. Point72 Asset Management L.P. acquired a new stake in PJT Partners during the second quarter worth approximately $13,803,000. Congress Asset Management Co. lifted its position in PJT Partners by 29.6% during the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after acquiring an additional 72,582 shares during the last quarter. State Street Corp lifted its position in PJT Partners by 5.7% during the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after acquiring an additional 54,071 shares during the last quarter. Marshall Wace LLP acquired a new stake in PJT Partners during the second quarter worth approximately $5,801,000. Finally, Geode Capital Management LLC lifted its position in PJT Partners by 7.9% during the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after acquiring an additional 45,327 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.