PJT Partners (NYSE:PJT) Upgraded at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded PJT Partners from "neutral" to "buy" with a $170 price target, implying about a 21.5% upside from the stock's current level.
• Analyst sentiment remains mixed with a consensus rating of "Hold" and a $174 consensus price target; ratings breakdown: 1 Strong Buy, 1 Buy, 4 Hold, 1 Sell.
• PJT recently reported an earnings beat—$2.55 EPS vs. $2.41 expected and $535.16M revenue (up 12.1% year-over-year); the stock has a market cap of about $3.38 billion and was trading near $139.90.

PJT Partners (NYSE:PJT - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report issued on Wednesday, MarketBeat.com reports. The firm presently has a $170.00 target price on the financial services provider's stock. The Goldman Sachs Group's target price would suggest a potential upside of 21.52% from the company's current price.

PJT has been the subject of a number of other research reports. UBS Group reduced their price objective on PJT Partners from $180.00 to $151.00 and set a "neutral" rating for the company in a research note on Thursday, March 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PJT Partners in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods boosted their price target on shares of PJT Partners from $186.00 to $188.00 and gave the company a "market perform" rating in a research note on Thursday, January 8th. Finally, Zacks Research downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $174.00.

PJT Partners Price Performance

PJT stock opened at $139.90 on Wednesday. The stock has a market capitalization of $3.38 billion, a PE ratio of 21.07 and a beta of 0.85. The company's 50-day moving average is $151.80 and its 200-day moving average is $166.18. PJT Partners has a 1 year low of $119.76 and a 1 year high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.14. PJT Partners had a return on equity of 31.69% and a net margin of 10.51%.The business had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. During the same period in the previous year, the company posted $1.90 EPS. The firm's revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that PJT Partners will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. EFG Asset Management North America Corp. purchased a new stake in PJT Partners in the third quarter worth $1,256,000. Mutual of America Capital Management LLC raised its stake in shares of PJT Partners by 19.1% in the third quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider's stock valued at $13,920,000 after buying an additional 12,537 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of PJT Partners by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider's stock valued at $37,015,000 after buying an additional 31,594 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of PJT Partners by 105.4% during the 2nd quarter. Cresset Asset Management LLC now owns 21,536 shares of the financial services provider's stock worth $3,554,000 after acquiring an additional 11,053 shares during the period. Finally, Congress Asset Management Co. grew its stake in shares of PJT Partners by 5.4% during the 3rd quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider's stock worth $94,442,000 after acquiring an additional 27,232 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Company Profile

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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