PJT Partners Inc. (NYSE:PJT) Stock Has Average Target Price of $168.33 According to Brokerages

Key Points

• Analyst consensus is “Hold” for PJT Partners, with four hold, two buy, and one sell rating. The average 12-month price target is $168.33, above the stock’s reported $138.19 opening price.
• PJT Partners exceeded quarterly expectations, reporting $1.97 in EPS versus the $1.57 consensus and $486.29 million in revenue versus $425.28 million expected. Revenue increased 19.5% year over year.
• Institutional investors own 89.23% of the company, while insiders sold 11,951 shares worth approximately $2.06 million during the last quarter. The company also pays a quarterly dividend of $0.25, equivalent to a 0.7% annual yield.

Shares of PJT Partners Inc. (NYSE:PJT - Get Free Report) have been given an average rating of "Hold" by the seven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $168.33.

Several analysts have issued reports on PJT shares. Wall Street Zen downgraded shares of PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. UBS Group reduced their target price on shares of PJT Partners from $176.00 to $165.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. BMO Capital Markets restated an "outperform" rating on shares of PJT Partners in a research note on Tuesday, October 6th. The Goldman Sachs Group decreased their target price on shares of PJT Partners from $203.00 to $182.00 and set a "buy" rating for the company in a research note on Thursday, October 1st. Finally, Zacks Research raised shares of PJT Partners from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th.

Insider Activity

In other PJT Partners news, Director James Costos sold 1,723 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the transaction, the director directly owned 11,289 shares of the company's stock, valued at $1,975,575. This represents a 13.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Grace Skaugen sold 1,283 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the sale, the director owned 500 shares of the company's stock, valued at $83,835. This represents a 71.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,951 shares of company stock valued at $2,061,681. Corporate insiders own 10.98% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC grew its stake in PJT Partners by 619.0% during the 2nd quarter. Squarepoint Ops LLC now owns 157,151 shares of the financial services provider's stock valued at $23,720,000 after purchasing an additional 135,294 shares in the last quarter. Grandeur Peak Global Advisors LLC raised its position in shares of PJT Partners by 12.0% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 57,926 shares of the financial services provider's stock valued at $8,743,000 after purchasing an additional 6,216 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of PJT Partners in the 2nd quarter valued at approximately $4,604,000. California State Teachers Retirement System raised its position in shares of PJT Partners by 27.3% in the 1st quarter. California State Teachers Retirement System now owns 27,881 shares of the financial services provider's stock valued at $3,896,000 after purchasing an additional 5,980 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of PJT Partners by 331.0% during the 1st 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. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Stock Performance

PJT stock opened at $138.19 on Tuesday. PJT Partners has a 1 year low of $127.73 and a 1 year high of $195.62. The firm has a market cap of $3.53 billion, a P/E ratio of 18.90 and a beta of 0.89. The stock has a 50-day simple moving average of $163.14 and a 200-day simple moving average of $158.52.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.57 by $0.40. The business had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%. The company's revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. On average, equities research analysts predict that PJT Partners will post 8.00 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued 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 payout ratio is currently 13.68%.

About PJT Partners

PJT Partners Inc NYSE: PJT is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.

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