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

PJT Partners (NYSE:PJT) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $175.00 to $185.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 16.33% from the stock’s current price.

A number of other research analysts also recently commented on PJT. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Wednesday, April 1st. UBS Group raised their target price on shares of PJT Partners from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, PJT Partners has a consensus rating of “Hold” and an average price target of $175.33.

PJT Partners Stock Up 1.9%

PJT stock opened at $159.03 on Friday. PJT Partners has a 52-week low of $127.73 and a 52-week high of $195.62. The stock’s fifty day simple moving average is $155.93 and its 200-day simple moving average is $157.18. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 23.18 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts anticipate that PJT Partners will post 7.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, the general counsel owned 2,052 shares of the company’s stock, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares in the company, valued at $8,956,406.54. The trade was a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is currently owned by corporate insiders.

Institutional Trading of PJT Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 99 shares in the last quarter. Allworth Financial LP lifted its stake in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of PJT Partners in the first quarter worth about $50,000. State of Wyoming purchased a new stake in shares of PJT Partners in the second quarter worth about $63,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of PJT Partners in the fourth quarter valued at about $65,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

About PJT Partners

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.