PJT Partners (NYSE:PJT) Upgraded at BMO Capital Markets

PJT Partners (NYSE:PJT) was upgraded by equities research analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a report on Monday, July 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a report on Saturday, September 27th. Finally, Wolfe Research restated an “underperform” rating on shares of PJT Partners in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $182.25.

PJT Partners Trading Up 1.4%

PJT Partners stock opened at $179.80 on Thursday. The business’s fifty day simple moving average is $180.36 and its two-hundred day simple moving average is $161.25. PJT Partners has a 12 month low of $119.76 and a 12 month high of $190.27. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 30.89 and a beta of 0.76.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.36 by $0.18. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The business had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. During the same period in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that PJT Partners will post 6.2 EPS for the current year.

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 2,288 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director owned 500 shares of the company’s stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their position. The disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

Institutional Trading of PJT Partners

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in PJT Partners by 2.5% during the second quarter. Geode Capital Management LLC now owns 674,958 shares of the financial services provider’s stock valued at $111,387,000 after acquiring an additional 16,591 shares during the last quarter. Alliancebernstein L.P. increased its position in PJT Partners by 9.8% during the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock valued at $87,239,000 after acquiring an additional 47,279 shares during the last quarter. Invesco Ltd. increased its position in PJT Partners by 106.7% during the second quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock valued at $85,814,000 after acquiring an additional 268,435 shares during the last quarter. Congress Asset Management Co. increased its position in PJT Partners by 3.8% during the second quarter. Congress Asset Management Co. now owns 504,146 shares of the financial services provider’s stock valued at $83,189,000 after acquiring an additional 18,571 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in PJT Partners by 6.7% in the second quarter. Raymond James Financial Inc. now owns 490,566 shares of the financial services provider’s stock worth $80,948,000 after buying an additional 30,860 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

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.