Bank of America upgraded shares of PJT Partners (NYSE:PJT) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat reports. Bank of America currently has $55.00 price objective on the financial services provider’s stock, up from their previous price objective of $53.00. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the company. Sandler O’Neill set a $62.00 target price on PJT Partners and gave the stock a hold rating in a research note on Wednesday, August 1st. TheStreet upgraded PJT Partners from a d rating to a c rating in a research note on Monday, September 17th. Zacks Investment Research lowered PJT Partners from a hold rating to a sell rating in a research note on Friday, October 19th. Finally, Goldman Sachs Group began coverage on PJT Partners in a research note on Tuesday, November 6th. They issued a buy rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $57.80.

PJT stock opened at $47.26 on Monday. PJT Partners has a twelve month low of $40.78 and a twelve month high of $61.18. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 30.69 and a beta of 0.79.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 30th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. PJT Partners had a positive return on equity of 19.78% and a negative net margin of 2.98%. The business had revenue of $140.14 million for the quarter. As a group, sell-side analysts expect that PJT Partners will post 2.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. PJT Partners’s payout ratio is 12.99%.

A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of PJT Partners by 10.3% during the first quarter. Principal Financial Group Inc. now owns 12,778 shares of the financial services provider’s stock valued at $640,000 after buying an additional 1,190 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of PJT Partners by 19.7% during the second quarter. MetLife Investment Advisors LLC now owns 9,330 shares of the financial services provider’s stock valued at $498,000 after buying an additional 1,536 shares during the period. Martingale Asset Management L P increased its stake in shares of PJT Partners by 2.7% during the second quarter. Martingale Asset Management L P now owns 60,507 shares of the financial services provider’s stock valued at $3,231,000 after buying an additional 1,601 shares during the period. Swiss National Bank increased its stake in shares of PJT Partners by 5.6% during the third quarter. Swiss National Bank now owns 33,835 shares of the financial services provider’s stock valued at $1,771,000 after buying an additional 1,800 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of PJT Partners by 13.2% during the second quarter. Engineers Gate Manager LP now owns 17,631 shares of the financial services provider’s stock valued at $941,000 after buying an additional 2,052 shares during the period. Institutional investors and hedge funds own 61.14% 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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