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

PJT Partners (NYSE:PJT) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $152.00 to $161.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.38% from the company’s previous close.

Several other analysts have also weighed in on the stock. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, PJT Partners has a consensus rating of “Hold” and an average price target of $154.50.

PJT Partners Price Performance

NYSE PJT opened at $149.93 on Monday. PJT Partners has a 12 month low of $99.42 and a 12 month high of $190.28. The company has a market capitalization of $3.49 billion, a P/E ratio of 30.60 and a beta of 0.76. The company’s 50 day simple moving average is $137.97 and its 200 day simple moving average is $152.52.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts anticipate that PJT Partners will post 6.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.75% of the company’s stock.

Institutional Trading of PJT Partners

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its stake in PJT Partners by 158.6% in the 3rd quarter. Barclays PLC now owns 52,045 shares of the financial services provider’s stock valued at $6,940,000 after buying an additional 31,922 shares during the last quarter. JPMorgan Chase & Co. raised its position in PJT Partners by 91.4% during the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock valued at $9,636,000 after purchasing an additional 34,514 shares in the last quarter. Ellsworth Advisors LLC increased its stake in shares of PJT Partners by 3.8% in the 4th quarter. Ellsworth Advisors LLC now owns 5,647 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 205 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in PJT Partners by 4.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,080 shares of the financial services provider’s stock worth $802,000 after acquiring an additional 200 shares in the last quarter. Finally, Seneca House Advisors acquired a new stake in shares of PJT Partners in the 4th quarter valued at approximately $202,000. 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.