PJT Partners (NYSE:PJT) Lifted to Buy at Zacks Investment Research

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PJT Partners (NYSE:PJT) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday, September 18th. The firm currently has a $61.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 34.12% from the stock’s previous close.

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. “

A number of other brokerages have also recently commented on PJT. Bank of America cut shares of PJT Partners from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Monday, July 16th. They noted that the move was a valuation call. Sandler O’Neill set a $62.00 target price on shares of PJT Partners and gave the company a “hold” rating in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PJT Partners presently has an average rating of “Hold” and a consensus price target of $58.50.

NYSE PJT traded up $0.62 during mid-day trading on Tuesday, reaching $45.48. 193,209 shares of the stock were exchanged, compared to its average volume of 150,288. PJT Partners has a 1 year low of $36.40 and a 1 year high of $61.18. The company has a market capitalization of $1.08 billion, a PE ratio of 29.53 and a beta of 0.39.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.20. The firm had revenue of $130.67 million for the quarter. PJT Partners had a negative net margin of 4.11% and a positive return on equity of 24.71%. As a group, equities analysts predict that PJT Partners will post 2.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in PJT Partners by 78.9% during the second quarter. FMR LLC now owns 1,851,734 shares of the financial services provider’s stock worth $98,864,000 after purchasing an additional 816,714 shares during the last quarter. BlackRock Inc. boosted its stake in PJT Partners by 18.7% during the second quarter. BlackRock Inc. now owns 1,495,152 shares of the financial services provider’s stock worth $79,827,000 after buying an additional 235,094 shares during the period. Eagle Asset Management Inc. boosted its stake in PJT Partners by 176.2% during the second quarter. Eagle Asset Management Inc. now owns 846,102 shares of the financial services provider’s stock worth $45,173,000 after buying an additional 539,716 shares during the period. Renaissance Technologies LLC boosted its stake in PJT Partners by 37.5% during the second quarter. Renaissance Technologies LLC now owns 705,300 shares of the financial services provider’s stock worth $37,656,000 after buying an additional 192,500 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in PJT Partners by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 397,101 shares of the financial services provider’s stock worth $21,202,000 after buying an additional 54,529 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc provides various strategic advisory, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.

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