PJT Partners (NYSE:PJT) Cut to “Hold” at Zacks Research

PJT Partners (NYSE:PJT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on PJT. Evercore ISI set a $180.00 target price on PJT Partners in a report on Monday, October 13th. BMO Capital Markets initiated coverage on shares of PJT Partners in a research report on Friday, October 3rd. They issued an “outperform” rating and a $205.00 price objective for the company. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group initiated coverage on shares of PJT Partners in a report on Thursday, December 11th. They set a “neutral” rating and a $180.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $187.75.

PJT Partners Stock Up 1.8%

Shares of PJT stock opened at $181.25 on Monday. PJT Partners has a fifty-two week low of $119.76 and a fifty-two week high of $190.27. The firm’s 50 day moving average price is $168.91 and its two-hundred day moving average price is $174.85. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 27.88 and a beta of 0.84.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.61. PJT Partners had a net margin of 10.75% and a return on equity of 29.66%. The business had revenue of $447.09 million for the quarter, compared to analyst estimates of $386.76 million. On average, equities analysts forecast that PJT Partners will post 6.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PJT. CWM LLC increased its holdings in shares of PJT Partners by 50.8% in the 3rd quarter. CWM LLC now owns 181 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 61 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in PJT Partners in the third quarter worth $33,000. Salomon & Ludwin LLC acquired a new stake in shares of PJT Partners during the third quarter worth $41,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of PJT Partners by 75.9% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock worth $47,000 after buying an additional 123 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of PJT Partners in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.