PJT Partners Inc. (NYSE:PJT) Stock Has Consensus Target Price of $168.33 According to Brokerages

by · The Markets Daily

PJT Partners Inc. (NYSE:PJT – Get Free Report) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $168.33.

PJT has been the subject of several research reports. BMO Capital Markets restated an “outperform” rating on shares of PJT Partners in a report on Tuesday, October 6th. The Goldman Sachs Group lowered their price objective on shares of PJT Partners from $203.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Capital One Financial set a $160.00 price objective on shares of PJT Partners in a research note on Tuesday, October 6th. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research report on Wednesday, August 26th.

View Our Latest Stock Report on PJT

Insider Activity at PJT Partners

In other news, Director Kievdi Cornwell sold 7,845 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the transaction, the director directly owned 18,865 shares of the company’s stock, valued at approximately $3,272,700.20. This represents a 29.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Costos sold 1,723 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $175.00, for a total value of $301,525.00. Following the sale, the director owned 11,289 shares of the company’s stock, valued at approximately $1,975,575. This represents a 13.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Compass Financial Management LLC acquired a new stake in PJT Partners in the second quarter valued at approximately $32,000. Versant Capital Management Inc grew its position in PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of PJT Partners during the 1st quarter valued at $50,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PJT Partners by 2,338.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 491 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of PJT Partners in the 3rd quarter valued at $92,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Down 0.8%

Shares of NYSE PJT opened at $136.15 on Tuesday. PJT Partners has a one year low of $127.73 and a one year high of $195.62. The firm has a market capitalization of $3.48 billion, a PE ratio of 18.62 and a beta of 0.89. The business has a 50-day moving average price of $159.53 and a two-hundred day moving average price of $158.43.

PJT Partners (NYSE:PJT – Get Free Report) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. The company had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. Research analysts anticipate that PJT Partners will post 7.65 EPS for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 2nd. PJT Partners’s payout ratio is currently 13.68%.

About PJT Partners

(Get Free Report)

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.

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