PJT Partners (NYSE:PJT) Upgraded at Zacks Investment Research

PJT Partners (NYSE:PJTGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods raised PJT Partners from a “market perform” rating to an “outperform” rating and set a $79.00 price target for the company in a research report on Wednesday, April 6th. Piper Sandler upped their target price on shares of PJT Partners from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Friday, April 29th. JMP Securities decreased their price objective on shares of PJT Partners from $98.00 to $86.00 and set a “market outperform” rating for the company in a report on Thursday, April 7th. Finally, Wolfe Research upgraded PJT Partners from a “peer perform” rating to an “outperform” rating and set a $83.00 target price on the stock in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $83.50.

Shares of NYSE PJT opened at $78.43 on Wednesday. The company has a 50 day simple moving average of $68.56 and a two-hundred day simple moving average of $68.49. PJT Partners has a fifty-two week low of $54.48 and a fifty-two week high of $89.50. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 19.46 and a beta of 0.80.

PJT Partners (NYSE:PJTGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.19. PJT Partners had a return on equity of 27.53% and a net margin of 10.20%. During the same period in the prior year, the company posted $0.89 EPS. As a group, research analysts forecast that PJT Partners will post 4.8 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keeley Teton Advisors LLC grew its holdings in shares of PJT Partners by 46.6% in the first quarter. Keeley Teton Advisors LLC now owns 34,162 shares of the financial services provider’s stock worth $2,156,000 after acquiring an additional 10,858 shares during the period. Gamco Investors INC. ET AL boosted its position in PJT Partners by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 102,750 shares of the financial services provider’s stock worth $6,486,000 after purchasing an additional 1,000 shares during the last quarter. Prospect Capital Advisors LLC grew its stake in shares of PJT Partners by 5.1% during the 1st quarter. Prospect Capital Advisors LLC now owns 210,115 shares of the financial services provider’s stock valued at $13,263,000 after purchasing an additional 10,200 shares during the period. Goldman Sachs Group Inc. increased its position in shares of PJT Partners by 12.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 493,636 shares of the financial services provider’s stock valued at $31,158,000 after purchasing an additional 55,533 shares during the last quarter. Finally, Interval Partners LP bought a new position in shares of PJT Partners in the 1st quarter worth approximately $2,052,000. 69.18% of the stock is currently owned by hedge funds and other institutional investors.

About PJT Partners (Get Rating)

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.

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