PJT Partners Inc. (NYSE:PJT) Stock Has Average Target Price of $177.50 According to Brokerages

PJT Partners Inc. (NYSE:PJT) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $177.50.

A number of research analysts recently weighed in on PJT shares. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. BMO Capital Markets increased their price target on shares of PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research report on Wednesday, August 26th. Finally, UBS Group reissued a “neutral” rating and set a $176.00 price objective on shares of PJT Partners in a research note on Wednesday, July 29th.

PJT Partners Stock Down 0.5%

Shares of PJT Partners stock opened at $148.59 on Friday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 20.33 and a beta of 0.84. The business has a 50-day moving average price of $169.40 and a 200-day moving average price of $157.83. PJT Partners has a twelve month low of $127.73 and a twelve month high of $195.62.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts expect that PJT Partners will post 8 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

Insider Activity

In related news, Director Kievdi Cornwell sold 7,845 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the transaction, the director directly owned 18,865 shares in the company, valued at approximately $3,272,700.20. This represents a 29.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emily Rafferty sold 1,100 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $167.35, for a total value of $184,085.00. Following the completion of the sale, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. The trade was a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,951 shares of company stock valued at $2,061,681 in the last quarter. 10.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PJT. Jackson Creek Investment Advisors LLC purchased a new stake in PJT Partners during the 4th quarter worth approximately $1,373,000. California State Teachers Retirement System lifted its stake in shares of PJT Partners by 27.3% during the first quarter. California State Teachers Retirement System now owns 27,881 shares of the financial services provider’s stock worth $3,896,000 after buying an additional 5,980 shares during the period. Sei Investments Co. grew its holdings in shares of PJT Partners by 331.0% during the first quarter. Sei Investments Co. now owns 57,283 shares of the financial services provider’s stock valued at $8,004,000 after buying an additional 43,993 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of PJT Partners during the second quarter valued at $4,604,000. Finally, Renaissance Technologies LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at $6,665,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

PJT Partners, Inc is a global advisory-focused investment banking firm that provides strategic and financial advice to corporations, institutions, financial sponsors and governments. Its services include mergers and acquisitions, strategic planning, capital structure advice, capital raising, shareholder engagement and other complex financial matters.

The company operates through several specialized businesses, including strategic advisory, restructuring and special situations, private capital advisory, and shareholder advisory.