Keefe, Bruyette & Woods Boosts PJT Partners (NYSE:PJT) Price Target to $159.00

PJT Partners (NYSE:PJT) had its target price upped by analysts at Keefe, Bruyette & Woods from $151.00 to $159.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 2.31% from the stock’s current price.

A number of other brokerages also recently commented on PJT. JMP Securities upped their price objective on shares of 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 increased their price target for the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.00.

PJT Partners Price Performance

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

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. During the same period in the previous year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. Sell-side analysts expect 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, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the company’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 value of $245,296.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,766 shares of company stock valued at $762,980. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several institutional investors have recently added to or reduced their stakes in PJT. Captrust Financial Advisors increased its holdings in PJT Partners by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 67 shares in the last quarter. M&T Bank Corp grew its holdings in shares of PJT Partners by 3.5% during the third quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 75 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of PJT Partners by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after buying an additional 100 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of PJT Partners by 0.9% in the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock valued at $1,425,000 after buying an additional 100 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in PJT Partners by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after buying an additional 120 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

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.