Keefe, Bruyette & Woods Lowers PJT Partners (NYSE:PJT) Price Target to $152.00

PJT Partners (NYSE:PJT) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $159.00 to $152.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 2.97% from the stock’s current price.

PJT has been the topic of several other reports. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $152.25.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $156.65 on Monday. PJT Partners has a 52-week low of $88.51 and a 52-week high of $168.92. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 39.76 and a beta of 0.66. The stock has a 50 day moving average price of $159.58 and a 200 day moving average price of $138.73.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the company posted $0.78 EPS. PJT Partners’s revenue was up 17.2% on a year-over-year basis. Analysts forecast that PJT Partners will post 4.4 earnings per share for the current year.

Insider Activity at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 over the last 90 days. Insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 109 shares during the last quarter. JPMorgan Chase & Co. increased its stake in PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock valued at $9,636,000 after purchasing an additional 34,514 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of PJT Partners in the third quarter worth $631,000. Geode Capital Management LLC lifted its stake in shares of PJT Partners by 7.9% during the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after buying an additional 45,327 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of PJT Partners by 3.5% during the third quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock worth $296,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

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.