Keefe, Bruyette & Woods Boosts PJT Partners (NYSE:PJT) Price Target to $185.00

Key Points

• Keefe, Bruyette & Woods raised its price target on PJT Partners to $185 from $175 and kept an outperform rating, implying about 16.3% upside from the stock’s current price.
• Other analysts remain mixed: UBS nudged its target to $162 with a neutral rating, Goldman Sachs upgraded PJT to buy with a $170 target, and the overall consensus remains Hold with an average target of $175.33.
• PJT Partners recently reported better-than-expected quarterly results, including EPS of $1.54 versus $1.51 expected and revenue of $418.2 million, while the stock was trading around $159.03 and up 1.9% on the day.

PJT Partners (NYSE:PJT - Get Free Report) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $175.00 to $185.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 16.33% from the stock's current price.

A number of other research firms also recently weighed in on PJT. UBS Group lifted their price target on PJT Partners from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group upgraded PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Wednesday, April 1st. Weiss Ratings reissued a "hold (c)" rating on shares of PJT Partners in a report on Friday, May 29th. Finally, Zacks Research upgraded shares of PJT Partners from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $175.33.

PJT Partners Stock Up 1.9%

Shares of NYSE:PJT opened at $159.03 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of 23.18 and a beta of 0.85. PJT Partners has a 52 week low of $127.73 and a 52 week high of $195.62. The company has a 50-day moving average price of $155.93 and a 200 day moving average price of $157.18.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.03. The company had revenue of $418.20 million for the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The firm's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Analysts expect that PJT Partners will post 7.5 EPS for the current year.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Helen T. Meates sold 8,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 10.98% of the company's stock.

Institutional Trading of PJT Partners

A number of large investors have recently made changes to their positions in PJT. Versant Capital Management Inc increased its position in PJT Partners by 73.3% during the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider's stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Allworth Financial LP lifted its holdings in PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PJT Partners during the 1st quarter worth about $50,000. State of Wyoming acquired a new stake in shares of PJT Partners during the 2nd quarter worth about $63,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of PJT Partners during the fourth quarter worth about $65,000. 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.

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