PJT Partners (NYSE:PJT) Given New $152.00 Price Target at UBS Group

PJT Partners (NYSE:PJT) had its price objective raised by UBS Group from $151.00 to $152.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 3.53% from the company’s current price.

A number of other brokerages also recently issued reports on PJT. The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, April 1st. Keefe, Bruyette & Woods upgraded PJT Partners from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $180.00 to $166.00 in a report on Wednesday. Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $170.50.

PJT Partners Stock Performance

Shares of NYSE PJT traded up $5.17 during mid-day trading on Wednesday, hitting $146.82. The stock had a trading volume of 457,882 shares, compared to its average volume of 344,443. PJT Partners has a 1 year low of $122.99 and a 1 year high of $195.62. The business has a 50 day moving average price of $147.46 and a two-hundred day moving average price of $164.64. The firm has a market cap of $3.55 billion, a P/E ratio of 22.11 and a beta of 0.88.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The company had revenue of $535.16 million for the quarter, compared to the consensus estimate of $533.32 million. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts predict that PJT Partners will post 6.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of PJT Partners by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock worth $114,195,000 after acquiring an additional 16,388 shares during the period. Morgan Stanley grew its position in shares of PJT Partners by 7.5% in the 4th quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock worth $110,307,000 after buying an additional 45,758 shares during the period. Wasatch Advisors LP grew its position in shares of PJT Partners by 52.1% in the 4th quarter. Wasatch Advisors LP now owns 587,109 shares of the financial services provider’s stock worth $98,165,000 after buying an additional 201,110 shares during the period. Congress Asset Management Co. grew its position in shares of PJT Partners by 9.9% in the 4th quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock worth $97,632,000 after buying an additional 52,548 shares during the period. Finally, Invesco Ltd. grew its position in shares of PJT Partners by 3.2% in the 4th quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock worth $89,595,000 after buying an additional 16,445 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

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.