Zacks Investment Research cut shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a report issued on Friday morning.

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 analysts also recently weighed in on PJT. Sandler O’Neill set a $58.00 price target on shares of PJT Partners and gave the stock a hold rating in a research report on Friday, July 13th. Bank of America downgraded shares of PJT Partners from a buy rating to a neutral rating and set a $60.00 price target for the company. in a research report on Monday, July 16th. They noted that the move was a valuation call. Finally, TheStreet raised shares of PJT Partners from a d rating to a c rating in a research report on Monday, September 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $58.50.

Shares of PJT stock traded down $0.88 during mid-day trading on Friday, reaching $45.00. 60,566 shares of the company were exchanged, compared to its average volume of 125,735. PJT Partners has a fifty-two week low of $37.47 and a fifty-two week high of $61.18. The company has a market capitalization of $942.19 million, a P/E ratio of 26.22 and a beta of 0.38.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. PJT Partners had a negative net margin of 4.11% and a positive return on equity of 24.71%. The business had revenue of $130.67 million during the quarter. On average, research analysts forecast that PJT Partners will post 2.19 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in PJT. Wells Fargo & Company MN boosted its holdings in PJT Partners by 13.3% in the first quarter. Wells Fargo & Company MN now owns 55,461 shares of the financial services provider’s stock worth $2,779,000 after purchasing an additional 6,529 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in PJT Partners by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 83,185 shares of the financial services provider’s stock worth $4,168,000 after purchasing an additional 2,413 shares during the period. Northern Trust Corp boosted its holdings in PJT Partners by 0.9% in the first quarter. Northern Trust Corp now owns 197,864 shares of the financial services provider’s stock worth $9,913,000 after purchasing an additional 1,709 shares during the period. BlackRock Inc. boosted its holdings in PJT Partners by 2.9% in the first quarter. BlackRock Inc. now owns 1,260,058 shares of the financial services provider’s stock worth $63,128,000 after purchasing an additional 35,406 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in PJT Partners by 45.0% in the first quarter. Dimensional Fund Advisors LP now owns 342,572 shares of the financial services provider’s stock worth $17,163,000 after purchasing an additional 106,287 shares during the period. 62.51% of the stock is owned by hedge funds and other institutional investors.

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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